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Economic news

BlackRock’s Fink bullish on private markets amid high US deficit

10/21/2024

Less than a minute

2024.10.21 13:28

© Reuters. FILE PHOTO: Larry Fink, Chairman and CEO of BlackRock, speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. REUTERS/Brendan McDermid/File Photo

NEW YORK (Reuters) – The growth of private markets could mitigate the economic impact of wide U.S. deficits and high government debt levels, said Larry Fink, CEO and chairman at BlackRock (NYSE:).

Speaking at the Securities Industry and Financial Markets Association annual meeting in New York on Monday, he said rising U.S. government debt is a “big problem” but that private capital markets can help the U.S. economy grow without adding to the deficit.

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10/21/2024

Less than a minute