BlackRock CEO: Market Anxiety About Recession Exceeds Anytime in Recent Memory

On April 1st, Larry Fink, the CEO of BlackRock, stated in his annual letter published on Monday that a significant number of people he has had conversations with are apprehensive about an economic recession. The concerns of many individuals originate from the ambiguity of the tariff policy of the Trump administration. In the letter, Fink wrote, "I have encountered such expressions from nearly everyone I have engaged in discussions with. Their worries regarding the economy surpass those in any recent period in memory." Earlier this month, during an interview, Fink said, "The collective influence in the short term is that the market is retreating. When communicating with CEOs across the entire economic sector, they claim that the economy is weakening." Nevertheless, in his annual letter, Fink's tone takes on a different character. He did not elaborate on the specific details of the widespread economic uncertainty within the financial industry. Instead, he pointed out the tenacity of the capital markets over its 400-year history.