BlackRock CEO Warns US Economy May Already Be in Recession

Larry Fink, CEO of BlackRock, warned that the U.S. may already be in or very close to a recession, attributing this to President Trump's extensive tariffs, which have created significant uncertainty in the economy. During a CNBC interview, Fink expressed concern that the tariffs have led to a slowdown, with clients feeling unsettled and requiring more guidance from BlackRock. He described the current situation as self-inflicted, emphasizing that it is not a pandemic or financial crisis, but rather a consequence of policy decisions. Fink's remarks were echoed by JPMorgan CEO Jamie Dimon, who noted considerable turbulence in the economy due to the tariffs and other factors. Both executives highlighted the potential impact on ordinary citizens' retirement savings and expressed fears about inflation and market volatility. Recent data also indicates a significant drop in consumer sentiment, further underscoring economic anxieties.