BlackRock (BLK) Chief Executive Larry Fink said Friday that the tariffs announced by President Trump on various countries went beyond his imagination.
"The sweeping US tariff announcements went beyond anything I could have imagined in my 49 years in finance," Fink said on the company's Q1 earnings call, according to a FactSet transcript."
The CEO said the market turmoil affects "millions of ordinary people's retirement savings."
Fink added that there will be inflationary pressures and an "economy that is at risk" in the short run, but his long-term views are unchanged.
"Obviously, more policy clarity will help this uncertainty, but I remain very optimistic about the capital coming into the markets over the long term," he said.
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