BlackRock CEO Larry Fink says in his annual BlackRock letter that inflation is likely to stay closer to 3.5%-4% in the next few years.
BlackRock CEO Larry Fink issued a somber warning on the state of the financial markets, saying the banking crisis brought on by the collapse of Silicon Valley Bank could spread, but it was too early to determine. "We don't know yet whether the consequences of easy money and regulatory changes will cascade throughout the U.S. regional banking sector with more seizures and shutdowns coming," Fink said in his annual chairman letter to investors.
Fink said it now seems "inevitable" that some banks will need to pull back on lending to shore up their balance sheets, and there might be stricter capital standards for banks going forward. "It's too early to know how widespread the damage is. The regulatory response has so far been swift, and decisive actions have helped stave off contagion risks. But markets remain on edge. Will asset-liability mismatches be the second domino to fall?" Fink wrote.
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