BlackRock’s Fink bullish on private markets amid high US deficit

NEW YORK (Reuters) – The growth of private markets could mitigate the economic impact of wide U.S. deficits and high government debt levels, said Larry Fink, CEO and chairman at BlackRock (NYSE:BLK).

Speaking at the Securities Industry and Financial Markets Association annual meeting in New York on Monday, he said rising U.S. government debt is a “big problem” but that private capital markets can help the U.S. economy grow without adding to the deficit.