Inflation Concerns Rise Amid Nationalistic Policies, Says BlackRock CEO

BlackRock CEO Larry Fink warns that nationalistic policies, including worker deportations, will elevate U.S. inflation. Speaking at CERAWeek, he highlighted potential labor shortages in agriculture and technology sectors. Additionally, a BlackRock consortium secured a major port deal near the Panama Canal, emphasizing the firm's global growth strategy.

At the CERAWeek conference in Houston, BlackRock CEO Larry Fink addressed concerns that nationalistic policies in the U.S. will lead to heightened inflation. Fink specifically pointed to the deportation of workers as a key factor and noted potential issues in essential sectors like agriculture due to labor shortages.

Fink also discussed the implications of mass deportations and the lack of skilled workers in sectors vital to technological advancement, such as AI data center construction. He expressed concerns over rising construction costs tied to the Trump administration's trade policies and tariffs.

Meanwhile, BlackRock is expanding its global footprint with a new deal to buy a 90% stake in CK Hutchison's port assets near the Panama Canal. The acquisition reflects BlackRock's strategy to enhance its presence in over 100 ports worldwide, offering significant growth opportunities for the investment firm.

(With inputs from agencies.)