Economics
BlackRock’s Fink Sees Inflation Heading Higher After Russia Invasion
- Shift from globalization means more local spending, he says
- BlackRock has never had an office or staff in Russia
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Russia’s invasion of Ukraine is causing profound changes to the global economy that will mean higher inflation, according to BlackRock Inc. Chief Executive Officer Larry Fink.
The war is accelerating the shift away from globalization and also causing a jump in energy and food prices, Fink said on a call with several thousand global clients Tuesday. These factors, together with what he called “poor long-term planning by global governments” will mean increased costs for consumers.