BlackRock’s Larry Fink says U.S. is very close to a recession and may be in one now

Larry Fink, chief executive officer of BlackRock Inc., at the Berlin Global Dialogue in Berlin, Germany, on Tuesday, Oct. 1, 2024.

Bloomberg | Bloomberg | Getty Images

BlackRock CEO Larry Fink told CNBC on Friday that he thinks the U.S. economy has weakened.

“I think we’re very close, if not in, a recession now,” Fink said on “Squawk on the Street.”

Fears of an economic slowdown have risen sharply since President Donald Trump announced widespread tariffs last week, sparking a sell-off in the stock market. Trump on Wednesday announced that he was pausing some of those import levies for 90 days, but that move is not enough to restore confidence in the economy, Fink said.

“I think you’re going to see, across the board, just a slowdown until there’s more certainty. And we now have a 90-day on the reciprocal tariffs — that means longer, more elevated uncertainty,” Fink said Friday.

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