×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: blackrock | larry fink | stocks | rates

BlackRock's Larry Fink: Negative Rates 'Biggest Crisis' in the World

BlackRock's Larry Fink: Negative Rates 'Biggest Crisis' in the World

By    |   Thursday, 14 April 2016 11:00 AM EDT


BlackRock Chairman and CEO Larry Fink said that global negative and low interest rates are "going to become the biggest crisis globally."

"We have become too dependent on central bankers" to boost the global economies, he told CNBC.

Fink also said the U.S. stock market should be higher by year-end than where it is now.

"I believe that after we who know the Republican candidate is and who the Democratic candidate is, you're going to hear great commentary about fiscal reform," he said.

"The major part of the rally is going to be when you are hearing government officials talking."

Fink spoke shortly after BlackRock, the world's largest asset manager, posted a 20 percent drop in first-quarter profit on Thursday amid a dramatic reversal in financial markets.

The New York-based company's net income fell to $657 million, or $3.92 per share, in the quarter, from $822 million, or $4.84 per share, a year earlier, Reuters reported.

BlackRock attracted total long-term net inflows of $36.08 billion in the quarterly period, down from $70.44 billion in the same quarter of 2015.

On an adjusted basis, BlackRock earned $4.25 per share, falling short of the average analyst estimate of $4.29, according to Thomson Reuters

(Newsmax wire services contributed to this report).

© 2024 Newsmax Finance. All rights reserved.


StreetTalk
BlackRock Chairman and CEO Larry Fink said that global negative and low interest rates are "going to become the biggest crisis globally."
blackrock, larry fink, stocks, rates
208
2016-00-14
Thursday, 14 April 2016 11:00 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved