Larry Fink, Chairman & CEO of BlackRock, spoke with Erik Schatzker, Stephanie Ruhle and David Westin on Bloomberg TV’s “Bloomberg .” He discussed the Federal Reserve rate increase, the possibility of dollar-euro trading at parity, and his economic outlook for 2016.
Fink praised Janet Yellen after the Fed raised interest rates yesterday: “I think she nailed it. It was not too hot, not too cold, right down the center. I think it was a very well scripted conference…And the most important thing, what she gave the market is clarity. I think the opportunity they missed in September, why the markets were so unsettled because we had no clarity on their actions. And in this case they really expressed exactly what they’re looking for.”
On growth in 2016, Fink said: “I think [Yellen’s] going to be quite slow in raising rates going forward in 2016. My view is that the economy is decelerating. It is not going to be as fast as we want. We’re going to be lucky to see a 2% economy in the first part of next year.”
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On a possible recession, Fink said: “I don’t see a recession unless there’s more problems in China, more problems in the world. We will not cause a recession. We may have a recession from other problems in the world. But I don’t see it emanating from the United States.”