BlackRock’s Larry Fink says there’s no big recession headed for the US economy, but inflation will be ‘stickier for longer’

• BlackRock’s Larry Fink says inflation will stay higher for longer because of geopolitical issues.
• The CEO of the world’s largest asset manager explained why the US will not enter a big recession in 2023.
• That’s due to a large amount of money flowing into the economy from recent stimulus bills, Fink told CNBC.

BlackRock CEO Larry Fink waved off concerns of a big recession heading for the US in 2023, but maintained that inflation will be much stickier in the near-term. 

In an interview with CNBC, Fink said that the economy will not tip into a recession this year because of the enormous amount of stimulus flooding in from a slew of bills. The extra funding comes from the Infrastructure Bill, the Chips and Science Act, and the Inflation Reduction Act.