BlackRock CEO Larry Fink discusses the US economy, his views on the presidential election, and why he sees a “dawning of infrastructure” fueling growth. In a conversation with Bloomberg’s Francine Lacqua on the sidelines of the Berlin Global Dialogue 2024 conference, he also comments on the wars in the Middle East and Ukraine, and why he favors a stronger banking union in Europe.
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00:00:00 Global Infrastructure Partners; strength of capital markets
00:02:06 Sees “dawning of infrastructure” as major way to stimulate economy
00:04:55 Less systemic risk despite geopolitical risks and demographic shifts
00:07:46 US election: says Trump, Harris have “similar views” on economy
00:09:21 Favors Europe banking union; Mario Draghi report on future of EU
00:10:36 China fiscal and monetary policy stimulus; resilient supply chains
00:12:31 Wars in Ukraine and Middle East are “very unsettling”
00:13:45 US economy will continue to grow at 2% to 3% – no “soft landing”
00:15:00 Market is wrong to bet on so many Federal Reserve rate cuts
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