BlackRock's Larry Fink Makes Case for Government Infrastructure Stimulus
May 27 2020 - 3:34PM
Dow Jones News
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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