BlackRock CEO Warns US Economy Weakening Amid Trump Tariffs

BlackRock CEO Larry Fink has expressed grave concerns about the weakening U.S. economy, attributing much of the instability to President Trump's recent tariff policies, which he believes will lead to increased inflation and consumer prices. His remarks, made at the Economic Club of New York, indicate that many CEOs share the sentiment that the economy may already be in a recession. Fink forecasts a potential stock market decline of up to 20% due to these trade tensions and economic uncertainties, while Goldman Sachs and JPMorgan Chase have raised their recession probability forecasts significantly. He emphasizes the need for the administration to pivot towards pro-growth strategies, highlighting that current policies are inflationary and destabilizing. Additionally, Fink has noted that tariffs could weaken the U.S. dollar, exacerbating economic challenges. This sentiment is echoed by other financial leaders, who warn that tariffs may slow growth and increase recession fears.