BlackRock Chairman and CEO Laurence Fink said Wednesday that he expects the Fed to raise interest rates two to four more times, but does not see the risk of a serious recession or hard landing for the U.S. economy as high.
Speaking at the Deutsche Bank financial services conference, Fink said he believes the Fed has not completed its tightening cycle, but thinks it will be closer to two rather than four hikes. He added that inflation remains high and he does not see any evidence of a reduction in price pressures.
Fink, who runs the world's largest money management company with more than $10 trillion in assets under his management, said he expects a modest slowdown in economic growth but not a deep contraction.
Fink said there will be problem areas such as commercial real estate, but the overall economy is resilient and diversified.
He also expressed optimism that a solution will be found to the US debt limit problem, which has had an impact on the markets and threatens to trigger a default on US obligations. He said he believed both sides would find a way to avoid a crisis, but warned that the United States was jeopardizing its reserve currency status with its debt-limit "drama".
As we reported as Bitcoinsistemi.com, the FED recently published its Beige Book document and said that there was little change in the US economy in March and April.
*Not investment advice.
