BlackRock CEO Larry Fink: There Is Now a Marriage Between Main Street and Wall Street

CLAMAN Larry I mean ░░░░░░░░ alone the major indices ░░░░░░░░ moved up They ve ░░░░░░░░ dropped they ve surged ░░░░░░░░ ve been slumped I ░░░░░░░░ what does somebody like ░░░░░░░░ the world s largest ░░░░░░░░ manager make of these ░░░░░░░░ even after a 90 ░░░░░░░░ pause FINK Well the ░░░░░░░░ day pause actually makes ░░░░░░░░ more elongated So we ░░░░░░░░ don t know what ░░░░░░░░ outcome will be in ░░░░░░░░ of our policies across ░░░░░░░░ world on these tariffs ░░░░░░░░ for our investors who ░░░░░░░░ mostly retirement through investing ░░░░░░░░ retirement our job is ░░░░░░░░ have conversations about helping ░░░░░░░░ move beyond the ups ░░░░░░░░ downs the chaos the ░░░░░░░░ CLAMAN That s really ░░░░░░░░ to do Larry FINK ░░░░░░░░ s really hard to ░░░░░░░░ Liz But if you ░░░░░░░░ investing for a 10 ░░░░░░░░ 20 year 40 year ░░░░░░░░ you actually it really ░░░░░░░░ t matter what s ░░░░░░░░ at the moment and ░░░░░░░░ if the market falls ░░░░░░░░ 10 percent which is ░░░░░░░░ an unlikely consequence it ░░░░░░░░ not CLAMAN You said ░░░░░░░░ the Economic Club it ░░░░░░░░ be dropping another 20 ░░░░░░░░ FINK I did say ░░░░░░░░ CLAMAN Has that changed ░░░░░░░░ FINK No not by ░░░░░░░░ means But I also ░░░░░░░░ said at the Economic ░░░░░░░░ I m actually quite ░░░░░░░░ over the long run ░░░░░░░░ the mega trends are ░░░░░░░░ changed The investing in ░░░░░░░░ in infrastructure in data ░░░░░░░░ these are all going ░░░░░░░░ be mega transitory require ░░░░░░░░ investments and huge opportunities ░░░░░░░░ our investors But I ░░░░░░░░ to just get back ░░░░░░░░ the ups and downs ░░░░░░░░ the chaos in the ░░░░░░░░ I think politicians have ░░░░░░░░ wake up to the ░░░░░░░░ that Main Street and ░░░░░░░░ Street we ve married ░░░░░░░░ percent of Americans that ░░░░░░░░ now invested in the ░░░░░░░░ markets 20 years ago ░░░░░░░░ was less than 20 ░░░░░░░░ And so there was ░░░░░░░░ separation between Main Street ░░░░░░░░ Wall Street Because of ░░░░░░░░ success of Americans investing ░░░░░░░░ our greatest companies in ░░░░░░░░ world to enjoy the ░░░░░░░░ of America to invest ░░░░░░░░ America they ve been ░░░░░░░░ in America So we ░░░░░░░░ say that And so ░░░░░░░░ think we saw today ░░░░░░░░ know the mood from ░░░░░░░░ Michigan survey CLAMAN Consumer ░░░░░░░░ FINK It was CLAMAN ░░░░░░░░ FINK It was horrible ░░░░░░░░ there s more and ░░░░░░░░ people have invested in ░░░░░░░░ markets And to say ░░░░░░░░ Main Street is over ░░░░░░░░ and Wall Street is ░░░░░░░░ here that s wrong ░░░░░░░░ ve gotten married in ░░░░░░░░ cases it s a ░░░░░░░░ thing because more and ░░░░░░░░ Americans have enjoyed over ░░░░░░░░ last 10 years this ░░░░░░░░ upsurge in the value ░░░░░░░░ companies and America s ░░░░░░░░ and the opportunity to ░░░░░░░░ a part of the ░░░░░░░░ of America But when ░░░░░░░░ has a cold and ░░░░░░░░ there is issues of ░░░░░░░░ in where we are ░░░░░░░░ our economy and we ░░░░░░░░ this pullback and we ░░░░░░░░ this huge volatility it ░░░░░░░░ Main Street.”