BlackRock's Larry Fink says U.S. is very close to a recession and may be in one now

Economic Outlook - BlackRock CEO Larry Fink indicated that the U.S. economy has weakened significantly, suggesting that growth may turn negative and stating, "I think we're very close, if not in, a recession now" [1] - Fink expressed concerns about rising fears of an economic slowdown following President Trump's announcement of widespread tariffs, which led to a stock market sell-off [1][2] - The temporary pause on some tariffs for 90 days has not restored confidence in the economy, according to Fink, who anticipates a continued slowdown due to prolonged uncertainty [2] Consumer and Business Sentiment - Surveys indicate a decline in sentiment among consumers and business leaders, although some economic indicators like job growth and retail sales have remained relatively stable [3] - Fink noted that consumers may have stockpiled goods in anticipation of tariffs, potentially obscuring underlying economic weaknesses [3] BlackRock's Financial Performance - BlackRock's first-quarter financial results were mixed, with adjusted earnings per share of $11.30 exceeding Wall Street's expectation of $10.14, while revenue of $5.28 billion fell short of the $5.34 billion consensus [4] - The company reported $84 billion in net inflows during the quarter, bringing total assets under management to nearly $11.6 trillion [5] - Following the earnings report, BlackRock's shares experienced a slight increase of less than 1% in morning trading [5]