BlackRock Exec Says Markets Could Fall 15% Due To Governments' Continued Inaction
BlackRock CEO Laurence Fink runs the largest asset manager in the world and he’s afraid markets will take a 15% plunge if global governments don't enact aggressive fiscal policy.
While Fink admits he’s more pessimistic than the markets, he told Bloomberg Television he believes markets could rise 10% if policymakers take action globally to activate their economies. He also said low interest rates are hurting savers while benefiting people with capital, indicating this is one of the main drivers of resentment and anger worldwide.
On top of that, Fink says uncertainty from Brexit is only getting worse as CEOs in the UK halt hiring and hold off on investments until they see what happens politically. [Bloomberg]