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    Home»Private Equity»BlackRock CEO Larry Fink Sees Potential for ‘Big Shock’ From Inflation
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    BlackRock CEO Larry Fink Sees Potential for ‘Big Shock’ From Inflation

    June 4, 20211 Min Read
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    FILE - In this March 26, 2014 file photo, BlackRock Chairman and CEO Laurence Fink is interviewed by Maria Bartiromo on Fox Business Network's "Opening Bell with Maria Bartiromo," in New York. BlackRock, the world's largest asset manager, is making climate change central to its investment decisions going forward. Fink, who oversees the management of about $7 trillion in funds, said in his influential annual letter to CEOs Tuesday, Jan. 14, 2020, that he believes we are ?on the edge of a fundamental reshaping of finance? because of a warming planet. (AP Photo/Mark Lennihan, File)
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    BlackRock Inc. Chief Executive Officer Larry Fink said that investors may be underestimating the potential for a spike in inflation.

    “Most people haven’t had a forty-plus year career, and they’ve only seen declining inflation over the last 30-plus years,” Fink said at a virtual event hosted by Deutsche Bank AG on Wednesday. “So this is going to be a pretty big shock.”

    Concern about higher inflation has already seeped into U.S. markets with the cost of goods including lumber and steel rising this year. Fink began his career at First Boston Corp. in 1976, in a period of elevated inflation. The U.S. Consumer Price Index touched a high of 14.8% in March 1980.

    Read more/Source: Bloomberg

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