Following are excerpts from the unofficial transcript of a CNBC exclusive interview with BlackRock Chairman & CEO Larry Fink on CNBC’s “Money Movers” (M-F, 11AM-12PM ET) today, Tuesday, July 15. Following is a link to video on CNBC.com:
BlackRock CEO Larry Fink: Infrastructure investing is at the beginning of a golden age
Fink on infrastructure at the beginning of a golden age
LARRY FINK: We believe infrastructure is just at the beginning of a golden age. And I'll get into that. We believe private credit will continue to grow and evolve. We did HBS
BRIAN SULLIVAN: That’s HBS.
FINK: But also we believe that if you're going to be, if you believe there's going to be a melding between public and private markets, which we believe that's going to happen.
Fink on infrastructure investment
FINK: We believe that there's a need for trillions of dollars investing in infrastructure related to our power grids, AI, the whole digitization of an economy. We are still going to be investing in decarbonization. So all these different investments.
SULLIVAN: They go together, don't they?
FINK: They all go together. Plus making sure that we have adequate, you know, dispatchable energy. So all of this is all part of a plan. And we only had one target when we determined we needed to get even larger in infrastructure. And that was GIP.
Fink on public and private investing
FINK: We're going to have to do more and more public and private investing. I do believe deficits have consequences. And I've been discussing with this administration and many other governments that we need growth to reduce the dependency of our deficits. If we don't have economic growth around 3%, our deficits, our federal deficits are going to overwhelm the economy in the future. So the only way to get out of it is growth.
Fink on private capital
FINK: I think there's enough private capital to put the put the money to work working with state and local governments, working with the hyperscalers. And we need to make sure we do this because the US has to win and lead in AI and infrastructure. It is imperative. And so, you know, we need to find these solutions and we need to rapidly find the solutions. The money is there. The opportunity is there. BlackRock is going to be integral in this process.
