Blackrock CEO Larry Fink says he worries that the White House actions are much more inflationary than the market expects. He also said he sees a zero percent chance of four or five Fed rate cuts this year.
He said he sees this as more of a buying opportunity but added “that doesn’t mean we can’t fall another 20% from here”.
Fink said the US economy is probably in a recession right now.
“One thing I would say for sure right now is the economy is weakening,” Fink said.
Fink is speaking at the Economic Club of New York.
This article was written by Adam Button at www.forexlive.com.