Larry Fink, the CEO of BlackRock, predicted how many more times the Federal Reserve will raise interest rates while speaking to 'The Claman Countdown.'
One of those issues is "there is somewhat of a loss of confidence," something Fink said factored into the U.S. seeing "hundreds of billions of dollars of deposits leaving into larger banks, into money market funds, bonds and ETFs" in a few weeks. "What we are seeing is the balance between the capital markets and the banking system," Fink said.
The quarterly earnings reports slated to be put out in the next few weeks by small and regional banks could potentially be a trigger for more banks, according to Fink. BlackRock CEO Larry Fink, founder and CEO of BlackRock, speaks during the Reuters Global Investment Outlook Summit in New York Nov. 3, 2017.
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