Larry Fink: "US Presidential Election Results Are Not Important to Financial Markets"

Larry Fink, Chairman of BlackRock, stated on the 21st (local time) that the outcome of the U.S. presidential election is not important to the financial markets.

[Image source=Reuters Yonhap News]

At a conference hosted by the Securities Industry and Financial Markets Association in New York that day, Chairman Fink said, "I am tired of hearing that this (the November election) is the biggest election of our lives," adding, "Realistically, it doesn’t matter as time goes by."

He diagnosed, "Unfortunately, the market pays too much attention to when it will rise or fall at a certain point or quarter," and added repeatedly, "That really doesn’t matter." Earlier, during BlackRock’s earnings announcement, he had also predicted that there would be "no big difference" regardless of whether Vice President Kamala Harris or former President Donald Trump won the November election.

However, Chairman Fink said, "We are working with both administrations," and "We are in talks with both candidates."

Additionally, regarding the increasing U.S. fiscal deficit, he described it as a "big problem," but assessed that growth in the private market could mitigate the economic impact resulting from it.