BlackRock's Larry Fink says there's no big recession headed for the US economy, but inflation will be 'stickier for longer'
BlackRock CEO Larry Fink waved off concerns of a big recession heading for the US in 2023, but maintained that inflation will be much stickier in the near-term. Fink said that the economy will not tip into a recession this year because of the enormous amount of stimulus flooding in from a slew of bills. The extra funding comes from the Infrastructure Bill, the Chips and Science Act, and the Inflation Reduction Act.
"We have some sectors of the economy [that] are starting to weaken, but we are going to have other segments of the economy [grow] because these tremendous fiscal stimulus [packages] are going to offset some of that."
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