Larry Fink, thrust into political crosshairs, dials back ESG talk in his annual letter
So it may seem like a natural step that this year, Fink in his letter dialed back talk of investing with environmental, social, and governance factors in mind. There were a couple of references to"sustainability," no mentions of ESG, and no pushback on so-called woke investing. And unlikeInstead, he focused on more mundane aspects of investing, like the direction of interest rates.
Notably, Fink said he expects inflation to"stay closer to 3.5% or 4% in the next few years," and that it will"be more difficult for central bankers to tame over the long term." And in the wake of Silicon Valley Bank's fall, he recalled that prior rate-hiking cycles have"often led to spectacular financial flameouts," pointing to what's become known as the savings and loan crises of the 1980s and 1990s.
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