“I’m not calling for stagflation, but do I see persistence in inflation? Yes,” BlackRock Inc. CEO Larry Fink said.
BlackRock Inc. CEO Larry Fink shared a cloudier view on climate change efforts and inflation than Bank of America Corp. CEO Brian Moynihan at a virtual industry gathering on Tuesday.
Fink said the push by public companies to become more green has resulted in private companies simply buying dirty businesses from them. The amount of net amount of pollution being produced hasn’t fallen significantly. Both public and private companies and emerging countries need to be part of the solution, he said.
In terms of the economy, Fink said he’s optimistic about the amount of money sitting on the sidelines, aggressive monetary policy by central banks and the prospect of additional fiscal stimulus from Congress. But he said inflation won’t be transitory, as some pundits have said. Meanwhile, Bank of America CEO Moynihan said he is confident the economy will grow at rate of about 5%-plus this year, and around that level in 2022, fueled by a double-digit rise in consumer spending. Countries more impacted by COVID-19 will see lower growth, however. Read more about the impact of COVID-19 in MarketWatch’s “Coronarivus Update” column.
Bank of America has seen about 100,000 of its employees, or a little less than half its workforce, return to the office with the benefit of the COVID-19 vaccine.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Soaring Energy Prices Raise Concerns About U.S. Inflation, EconomyRising energy prices could push up inflation, damp consumer spending and ultimately slow the U.S. recovery, economists say
Read more »
Harry Styles Concerts Are His Fans' Met GalaThe glam-rock pop idol is taking over TikTok, one immaculate outfit reveal at a time.
Read more »
Asia shares dip on inflation worries, Evergrande jittersAsian shares dropped and Treasury yields held firm on Tuesday, as a global energy crunch fuelled inflation fears and concerns about Evergrande's debt problems intensified, clouding investor sentiment before the U.S. corporate earnings season.
Read more »
Federal Reserve - MarketWatchFederal Reserve News Articles - MarketWatch offers federal reserve news articles. Learn the latest US fed news at our site.
Read more »
High inflation to last awhile, Fed's Bostic says, and it's no longer 'transitory'The biggest burst in U.S. inflation in three decades is likely to last longer than expected and no longer should be considered 'transitory,' a senior Federal...
Read more »
There’s No Excuse for Jesy Nelson’s Blackfishing Music VideoOpEd: 'As Black artists continue to drive popular culture, we keep seeing white artists, models, and creatives create lackluster imitations of us while gaining huge rewards.'
Read more »