BlackRock CEO predicts sticky inflation but no major US recession in 2023.
TL;DR Summary
BlackRock CEO Larry Fink predicts that the US will not enter a big recession in 2023 due to the large amount of money flowing into the economy from recent stimulus bills. However, he warns that inflation will be much stickier in the near-term due to geopolitical issues and predicts a 4% inflation print. Fink believes that the move away from globalization to fragmentation will have costs that nobody is asking about.
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