By Dawn Lim

 

BlackRock Inc. Chief Executive Larry Fink sounded caution about how quickly jobs will return and said moves to reopen economies create risks.

"We're seeing governments moving from compassion to pragmatism," Mr. Fink said on a call hosted Wednesday by Deutsche Bank AG. "And the question is, are we going to see a second wave or third wave as we open up our economies, and we have to see what does that mean."

The virus's resurgence could require further government stimulus, Mr. Fink said. He says infrastructure spending will reboot the jobs market. "I do believe jobs are going to be slower coming back than other people believe," he said.

Mr. Fink said that "the markets are assuming a lot of good news at this moment," even though much isn't known about the pandemic's trajectory. He stressed that he is bullish on stocks in the long run. "I've always believed in equities."

 

Write to Dawn Lim at Dawn.Lim@WSJ.com

 

(END) Dow Jones Newswires

May 27, 2020 15:19 ET (19:19 GMT)

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