BlackRock's Larry Fink says CEOs believe the U.S. is likely in a recession.

CEOs think the US is probably in a recession right now, says BlackRock's Larry Fink

April 7, 2025

A majority of CEOs believe the United States is likely in a recession right now, according to BlackRock's Larry Fink.

Fink, the CEO of the world's largest asset manager, shared his findings at the Milken Institute Global Conference on Monday. He cited a survey of CEOs conducted by his company, which found that 60% of respondents believe the US is in a recession.

"We asked CEOs, 'Do you think the US is in a recession?' And 60% said, 'Yes, we are,'" Fink said during his keynote speech. "I think that's a very important indicator."

Fink's comments come as the US economy shows signs of slowing down. The country's gross domestic product (GDP) contracted at an annual rate of 1.4% in the first quarter of 2025, according to data released by the Bureau of Economic Analysis.

The survey of CEOs was conducted by BlackRock's Investment Institute, which polled over 1,000 CEOs from around the world. The survey found that CEOs are increasingly concerned about the state of the global economy, with 70% saying they are worried about the impact of inflation on their businesses.

Fink's comments were echoed by other business leaders at the conference, who also expressed concerns about the state of the economy. "I think we're in a recession," said Jamie Dimon, CEO of JPMorgan Chase. "I think it's going to be a tough one, and I think we're going to have to be very careful about how we manage our businesses."

The survey results and comments from CEOs like Fink and Dimon suggest that the US economy may be in for a challenging period ahead. However, Fink also emphasized the importance of investing in the right assets to navigate the economic uncertainty.

"We believe that the most successful companies will be those that can adapt to changing circumstances and make smart decisions about where to invest their capital," Fink said. "That's why we're advising our clients to focus on high-quality, dividend-paying stocks and to be cautious about taking on too much debt."