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Posted 9/29/2023, 10:38:00 AM

BlackRock's Fink Sees Modest Recession By 2025, More Fear Than Hope Currently

Larry Fink, BlackRock CEO, says there is more fear than hope in the world right now, especially related to China's COVID outbreak and consumer savings rates.
Fink doesn't see a U.S. recession happening soon, maybe by 2025, and says any recessions will be modest.
He believes the 10-year Treasury yield will rise to at least 5% or higher due to embedded and structural inflation.
Fink points to Russia's invasion of Ukraine and dependencies on China as sources of deeper structural inflation.
The S&P 500 is up 12% this year but down 5% in September amid the uncertain economic outlook.

marketwatch.com

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Step inside The Economist’s summer issue

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