‘The Canary Is Sick’: Blackrock’s Fink Says Most CEOs Telling Him ‘We’re Already In Recession’

Blackrock CEO Larry Fink says most CEOs he talks to say the country is ‘already in recession,’ and that the 20% market drop in three days will have ‘potential ripple effects’ on clients, and added that he “still won’t rule out another 20% market decline.“

“Are we in a recession?” asked Bloomberg TV host Erik Shatzker.

“Most CEOs I talk to would say we are probably in a recession right now,” Fink replied, adding that the canary “is sick.”

Wow! Blackrock CEO Fink says that we are in a RECESSION right now. pic.twitter.com/gkvXmuNinr

— Ed Krassenstein (@EdKrassen) April 7, 2025

“The economy is weakening as we speak,” Fink told Bloomberg TV, adding that US markets could drop further – and that 62% of Americans are exposed to equities. He also suggested that fed rate cuts are unlikely this year, and that a hike may actually be in store.

BlackRock CEO Larry Fink says he is concerned about elevated inflation and higher rates during an interview with Erik Schatzker at The Economic Club of New York https://t.co/WGfDIbZiqL pic.twitter.com/3kOdfAJakL

— Bloomberg TV (@BloombergTV) April 7, 2025

He also says that the administration needs to deliver on the pro-growth policies Trump promised on the campaign trail, such as tax cuts, deregulation and streamlining permitting for big infrastructure projects.

Long Term Buying Opportunity?

That said, Fink sees this as a buying opportunity “in the long run.”

BlackRock CEO Larry Fink says he sees the recent selloff in US equities as a buying opportunity during an interview with Erik Schatzker at The Economic Club of New York https://t.co/me3X0eGFCX pic.twitter.com/J3HIT0clTb

— Bloomberg TV (@BloombergTV) April 7, 2025

When asked by Shatzker whether corporate leaders need to tread more carefully under Trump, Fink deflected, answering that they always need to tread carefully. When pressed further on recent controversies involving Big Law firms who have capitulated to Trump, Fink replied: “Let’s move on.” 

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