Larry Fink, BlackRock CEO: "Inflation Risk Underestimated... Will Be a Major Shock"

▲Larry Fink, CEO of BlackRock [Image source=Reuters News]

[Asia Economy Reporter Kwon Jae-hee] Larry Fink, CEO of BlackRock, the world's largest asset management company, stated on the 2nd (local time) at an online event hosted by Deutsche Bank that "investors may be underestimating the possibility of inflation" and that "it could be quite a shock."

According to Bloomberg News on the same day, CEO Fink said at the event, "Most people have only seen falling prices over the past 30 years."

He pointed out that if inflation becomes a concern, the central bank, the U.S. Federal Reserve (Fed), may need to reassess its current monetary easing policies such as the 'zero' level benchmark interest rate and asset purchases.

This remark came amid growing inflation concerns recently, with the U.S. Consumer Price Index (CPI) for April rising 4.2% compared to the same month last year.

Bloomberg reported that when Fink began his career at the financial firm 'First Boston' in 1976, it was a period of rising prices, noting that the consumer price inflation rate in March 1980 reached 14.8%.

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