Blackrock CEO Larry Fink on the Looming Recession
“Increased inflation is less severe for the poorer sections of the population than a recession. One of the questions I have asked every central banker is: What is so magical about two percent inflation? Why not three percent? I don’t believe that two percent is a natural rate. It will take some time before we even reach three percent again. The question is: What will the central banks do then? Would they continue to try to go to two percent and risk a greater recession, or stop? I would prefer if they stop at three percent. “
– Blackrock CEO Larry Fink in “What’s so magical about the target of two percent?”, Handelsblatt from October 4, 2022, page 11
