BlackRock CEO Downplays Election Impact
BlackRock CEO Larry Fink downplayed the relevance of the upcoming US presidential election for financial markets, asserting that the outcome’really doesn’t matter’ in the long run.
At a conference hosted by the Securities Industry and Financial Markets Association on October 21, Fink voiced his frustration over the excessive focus on elections, according to the Financial Times.
‘I’m tired of hearing that this is the biggest election of your lifetime. The reality is that, over time, it doesn’t have an impact,’ Fink said during the event.
He pointed out that short-term market movements are often less critical than people tend to believe, particularly regarding retirement funds, which represent over half of BlackRock’s $11.5 trillion in assets under management.
‘Unfortunately, there’s too much concern about whether the market is going up or down at any specific moment or quarter,’ Fink remarked. ‘It truly doesn’t matter.
Fink also highlighted that BlackRock works with both Republican and Democratic administrations and is currently engaging in talks with both presidential candidates for 2024. Read More-https://thevoiceofentrepreneur.com/us-elections-2024-blackrock-ceo-larry-fink-states-that-the-results-will-not-significantly-affect-the-markets-im-tired-of/
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