BlackRock’s Fink says he is seeing some signs of easing inflation
NEW YORK — Larry Fink, chief executive of the world’s biggest asset manager BlackRock Inc, said on Wednesday he is starting to see some signs that inflation may start to ease, although that was not reflected yet in data.
Citing factors such as an acceleration in building new supply chains, which were hit hard by the COVID-19 pandemic, Fink said measures to counter inflation may, in the long run, weigh on price pressures.
“I just started to see more threads of declining inflation, but they’re not in the numbers yet,” Fink said at an Institute of International Finance (IIF) event in Washington.
Financial markets have been slammed this year as global central banks have raised interest rates to fight stubbornly high inflation.
Fink said declines in stocks and bonds valuations, however, present opportunities for investors, and that his firm is witnessing a “really big interest in bonds.”
“Other people’s grief is somebody else’s opportunity,” he said. (Reporting by Davide Barbuscia and Lananh Nguyen; Editing by David Gregorio)
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