BlackRock's Fink Urges Fiscal Stimulus to Avoid ‘Grim’ Outlook
- Says governments too reliant on central banks to lift economy
- Fiscal measures would help consumers, banks, Fink says
BlackRock CEO Fink: Fiscal Policy Can Extend Market Rally
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Laurence D. Fink, the head of the world’s largest asset manager, said governments need to embark on fiscal stimulus to boost the economy, joining a growing chorus of investors who say the world has relied on monetary policy for too long.
Monetary policy has “run out of runway,” with some central banks pushing interest rates into negative territory, Fink said Wednesday in an with Erik Schatzker on Bloomberg Television. He called the Bank of Japan’s negative rate policy an “outright mistake” and warned that without fiscal measures, the outlook would be “grim.”