We are very close to the recession and we may be in one now

Blackrock CEO Larry Fink told CNBC on Friday that he believed that the American economy has weakened to the degree of growth that may turn into negative.

“I think we are very close, if not in a stagnation now,” said Fink Ali. “Screaming on the street.“

Fears of economic slowdown have increased since President Donald Trump revealed a widespread tariff last week, which sparked a sale in the stock market. Trump announced on Wednesday that he stops some of these received fees 90 daysFink said this step was not enough to restore confidence in the economy.

“I think you will see, in all areas, just slow down so that there is more certainty. We have now stopped for 90 days on mutual definitions-and this means uncertainty for a longer period,” Fink said on Friday.

Consumer and business leaders have shown weak feelings in recent months. However, other parts of economic data such as job growth and retail sales were better. Fink said consumers may have stored goods before threatened definitions, which could hide some of the basic economic weakness.

Despite his concerns, Fink said he did not believe that the United States was in a financial crisis and is expected to continue the “huge” economy like artificial intelligence.

At an event for the Economic Club in New York on Monday, Fink said that other executives also believe the United States.Maybe in stagnation“

The latest Fink’s remarks after Blackrock announced its financial results in the first quarter. in press release On Friday morning, the CEO commented that “uncertainty and anxiety over the future of markets and economics dominate customer talks.”

The financial results of the asset management giant were mixed. Blackrock $ 11.30 in amending profits per share for the first quarter, higher than $ 10.14 expected by Wall Street analysts, according to LSEG. However, $ 5.28 billion revenues are less than $ 5.34 billion.

At the front of the assets, Blackrock recorded $ 84 billion of net flows during the quarter and March ended with about $ 11.58 trillion under management.

The shares of the company increased less than 1 % in morning trading.

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