'This is much more psychological': Why the CEO of the world's largest asset manager says the COVID-19 crisis is nothing like 2008
The financial crisis of 2008 and the economic damage caused by the COVID-19 pandemic are far different, according to BlackRock CEO Larry Fink.
"BlackRock has never believed we are going to have a 'V'-shaped economy. We believe this is going to be a slower, more persistent rebound," Fink said.Investors should not expect a"V"-shaped rebound in the economy as COVID-19 cases spike across the country, according to the CEO of the world's largest asset manager.
Additionally, the COVID-19 pandemic has made people feel unstable and they are"looking for hope," Fink said, adding that"hope" is a medical breakthrough in the treatment or prevention of the virus. When it comes to the policy actions from the Fed and Congress, Fink said that the purpose of these policies is not"to pick winners and losers," but instead to"protect jobs."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Florida Closes COVID-19 Response Center Following Its Own COVID OutbreakFlorida's pandemic response center temporarily closed its physical operation on Thursday after 13 staffers reportedly tested positive for the coronavirus
Read more »
Jake Paul Faces Backlash for Throwing a Large Party Amid COVID-19Calabasas mayor Alicia Weintraub and Tyler Oakley both slammed Jake Paul for his packed party.
Read more »
3 steps leaders should take to better manage a team during COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Australia suffers 'disturbing' COVID-19 surge, state curbs wedding partiesAustralia's Victoria state reported a record daily increase in COVID-19 cases on Friday while neighbouring New South Wales said it was banning dancing, singing and mingling at weddings as authorities struggle to contain a new wave of infections.
Read more »
Physical distancing measures could reduce new Covid-19 cases by 13%The use of a physical distancing measure was associated with an overall reduction in Covid-19 incidence of 13% over the study period, on average, researchers found. Restriction on mass gatherings, along with school and workplace closure, appeared to be key
Read more »