BlackRock CEO says interest rates may remain high for long time

24/10/2023 Argaam
BlackRock CEO Larry Fink

BlackRock CEO Larry Fink

Interest rates may remain high for a long time, reminding of the “bad policies” in the 1970s, BlackRock's CEO Larry Fink said at the Future Investment Initiative (FII) in Riyadh.

 

The growing deficit in the US is leading to higher inflation, he said, indicating the need for the Federal Reserve to consider further rate hikes.

 

Fink noted difficult times for the European economy, while the US economy maintains a robust market.

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