Squawk on the Street Volatile Week: U.S.-China Tariff Showdown, Big Bank Earnings, BlackRock CEO Fink "First on CNBC" 4/11/25
Apr 11, 2025
Larry Fink, CEO of BlackRock, the world’s largest asset manager, shares his insights on the escalating trade tensions between the U.S. and China, particularly the staggering 125% tariffs on American goods. He delves into the implications for inflation and market volatility, urging companies to navigate this uncertain landscape. Discussions also revolve around the recent strong earnings from big banks and concerns about a potential recession, emphasizing the critical need for strategic adaptation in these turbulent times.
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CEO Uncertainty
- CEOs express uncertainty similar to the early days of COVID-19.
- This makes planning difficult, hindering long-term strategies.
Main Street Strength
- Despite current economic uncertainty, Main Street businesses remain strong, according to Wells Fargo CEO Charlie Sharp.
- Loan growth is being observed for the first time.
Economic Paradox
- Positive economic indicators like low unemployment and high GDP growth are overshadowed by market volatility and rising interest rates.
- Trillions have been lost in stock market wealth.