Larry Fink, at the head of the largest asset manager, BlackRock, believes that the American economy could already have entered recession, mainly due to the impact of Donald Trump's pricing policies.
Blackrock alerts on an invisible recession that threatens the global economy
Larry Fink clearly expressed his concerns during an interview with CNBC last Friday. “” I think we are very close, even already in recession “Said the CEO of Blackrock without detours.
This statement comes in a context of high instability after the establishment by Trump of a flat-rate import tax of 10 % on all goods entering the United States.
The manager added that the 90 -day moratorium on certain reciprocal customs tariffs only prolongs a period of harmful uncertainty for the economy. This situation pushes BlackRock to intensify his exchanges with his customers around the world, seeking to reassure them in this tense economic climate.
The recent climbing of trade tensions with China further aggravates the situation. Last Wednesday, Trump announced that it would increase customs duties targeting Chinese products to 125 %, in addition to the 20 % already applied earlier this year. Beijing immediately retaliated by imposing its own equivalent customs rights.
A global destabilizer at the origin of a avoidable crisis
Faced with this situation, Blackrock intensifies its efforts to reassure and support its customers. “” We spend more time and exchanges with a greater number of customers around the world than ever before “, has explain Fink.
The asset management giant is thus trying to sail in an increasingly uncertain economic environment.
Despite these turbulence, Blackrock continues to develop its activities in the cryptocurrency sector. The group attracted $ 3 billion to its crypto active products in the first quarter of 2025, now representing 0.5 % of its overall outstanding with $ 50.3 billion.
For Fink, the current situation represents a disturbing turning point:
It is not a pandemic. It is not a financial crisis. This is something we have created. The United States, after the Second World War, was a world stabilizer. We are now the global destabilizer.
The crisis that is emerging could have major repercussions on the world economy, already weakened by the geopolitical and commercial tensions which intensify between the great economic powers.
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