BlackRock's Fink warns of potential slow rolling crisis and dodges ESG crosshairs.
BlackRock CEO Larry Fink has raised concerns about the US financial system, asking whether "dominoes" are "starting to fall" following years of "easy money." He pointed to the collapse of Silicon Valley Bank and a number of other issues that could emerge, including asset-liability and liquidity mismatches. Fink also noted that inflation has surged to its highest point since the 1980s due to "extraordinarily aggressive" fiscal and monetary policies, and warned that government spending has become unsustainable. He called for leaders in both government and corporations to work together to unleash the potential of the private sector.