BlackRock CEO Larry Fink expressed concerns about the U.S. economy potentially heading towards a recession, citing a recent slowdown in growth. The uncertainty surrounding President Trump’s tariffs has contributed to fears of an economic downturn, despite some positive economic indicators like job growth and retail sales. Fink believes that the 90-day pause on tariffs is not enough to restore confidence in the economy, leading to potential continued slowdown. BlackRock’s first-quarter financial results were mixed, with earnings per share beating expectations but revenue falling short. The asset management giant saw $84 billion in net inflows during the quarter and ended with nearly $11.6 trillion under management. Fink’s comments come amidst growing anxiety and uncertainty about the future of markets and the economy, as reflected in client conversations. Despite these concerns, shares of BlackRock were up slightly in morning trading.
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