Larry Fink: Global Uncertainty And "Punishing" Interest Rates

Global Uncertainty And “Punishing” Interest Rates by Larry Fink, BlackRock

Today, I released my annual shareholder letter. Here’s a quick look at some of the issues I feel are critical for investors, policymakers and business leaders to consider as they navigate the profound uncertainty in today’s markets and global economy. You can read my full letter at BlackRock.com.

Investors today are facing tremendous uncertainty fueled by slowing economic growth, technological disruption and social and geopolitical instability. Particularly worrying is the adoption of negative interest rates by central banks attempting to spark economic growth. Their actions are severely punishing the world’s savers and creating incentives to reach for yield, pushing investors into less liquid asset classes and increased levels of...