BlackRock’s Larry Fink warns of ‘slow-rolling crisis’ as Fed’s inflation battle drags on for years

Blackrock Inc. co-founder and CEO Larry Fink warned his firm’s investors that the Federal Reserve’s aggressive interest rate hike was the “first domino to fall” in a “slow-moving crisis” similar to other “spectacular financial crises”. of the past.

In his latest annual letter to shareholders, published Wednesday morning in New York, BlackRock’s founder blamed the Federal Reserve and the federal government for leaving the global financial system in a precarious state by blocking the worst-case scenario of inflation.