BlackRock CEO Fink: Economy Won’t Hit Trump’s 3 Percent Growth Goal

BlackRock Inc. Chief Executive Larry Fink said it will be hard for the United States to reach the 3 percent annual growth target set by President Donald Trump.

Fink has repeatedly sounded a cautious note on the economy this year even as stock markets have risen, citing uncertainty over the restructuring of U.S. tax policy and other variables.

In an interview tied to BlackRock’s second-quarter earnings, Fink told Reuters that U.S. growth rates would likely be around 2 percent to 2.5 percent, echoing comments last week by Federal Reserve Chair Janet Yellen.

Meanwhile, economic prospects elsewhere in the world are on the upswing.

“The world feels very good,” Fink told Reuters from Copenhagen, where his company’s board is meeting, citing economic performance in Europe, China, Japan and Canada.

“There’s still some dark clouds in the United States.”

JPMorgan Chase & Co Chief Executive Jamie Dimon on Friday lashed out against

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