Fed Isn’t Finished Raising Interest Rates to Fight Inflation, Larry Fink Says By Bloomberg

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Fed Isn’t Finished Raising Interest Rates to Fight Inflation, Larry Fink Says

Published May 31, 2023 13:22

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Fed Isn’t Finished Raising Interest Rates to Fight Inflation, Larry Fink Says

© Bloomberg. Larry Fink, chairman and chief executive officer of BlackRock, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Wednesday, Oct. 12, 2022. This year's conference theme is 2/2

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(Bloomberg) -- BlackRock Inc (NYSE:BLK). Chief Executive Officer Larry Fink said stubbornly high inflation will force the Federal Reserve to raise interest rates two to four more times.

“The Fed is not finished,” Fink said Wednesday during a financial services conference hosted by Deutsche Bank AG (NYSE:DB). “Inflation is still too strong, too sticky.”

Fink, 70, said there’s no guarantee that the US economy will tip into a recession and that it would be modest “if we even have one.”

BlackRock, which managed $9.09 trillion at the end of the first quarter, has seen a surge in client money flowing into bond funds after the Fed began hiking rates last year.

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