NATIONAL NEWS – BlackRock CEO warns Americans are anxious about the crashing economy

Laila Kirkpatrick, Staff Writer

Larry Fink, the CEO of Blackrock, which is the world’s largest asset manager that oversaw $11.55 trillion in assets at the end of 2024. BlackRock managed exchange-traded funds (ETFs) under the iShares brand, investment management brands under Barclays and Merill Lynch, infrastructure investment fund Global Infrastructure Partners, and other subsidiaries and minority stakes.

Fink shared his thoughts about the economy in his annual letter to investors. In his letter, he said, “I hear it from nearly every client, nearly every leader, nearly every person I talk to: They’re more anxious about the economy than at any time in recent memory. In his letter, he also talks about the importance of capital markets, opening them up to more people and investing in infrastructure. While he did not give advice on individual stocks, he warned that clearly consumer confidence has weakened. Stocks have entered correction territory, and more economists are warning about the possibility of a recession.