BlackRock’s Larry Fink is less upbeat on the economy than Bank of America’s Brian Moynihan.
BlackRock Inc. CEO Larry Fink shared a cloudier view on climate change efforts and inflation than Bank of America Corp. CEO Brian Moynihan at a virtual industry gathering on Tuesday.
Fink said the U.S.’s long-term shift toward a gig economy has left workers without traditional pensions and other benefits, and is feeding a drive toward sharper wage increases nowadays.
“You have more flexibility, but we lost the connection between our workers and many companies,” Fink said in his remarks at the Institute for International Finance (IIF) annual meeting. “The fragmentation and polarization of society is because of these issues.”
Market Watch
Black Rock’s Larry Fink blames gig economy for stoking inflation
BlackRock - The company that owns the world?
#BlackRock. There’s a good chance you have never heard of them.
In less than 30 years, this American financial firm has grown from nothing to becoming the world’s largest and most trusted manager of other people’s money. The assets left in their care are worth a staggering 6.3 trillion US dollars – a figure with 12 zeroes.
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