BlackRock Rally Fink said Monday that inflation in the US will be raised by nationalist policies, including the deportation of workers.
Speaking at the Cerawek conference in Houston, the head of the US investment management company added that the market is discounting inflation and there will be further costs increase over the next six to nine months.
“If we're all starting to get a little more nationalistic, I'm not saying that it's a bad thing.
Fink said he believes, for example, large-scale deportation could lead to problems in the agricultural sector.
“Are there enough workers to harvest this now?” he said. “We even told members of the Trump team that we were going to run out of electricians needed to build an AI data center. It's not enough.”
The Trump administration is also threatening heavy tariffs on trade partners that warn industry groups that industry groups could raise import costs sharply.
“When I go to Washington, when they talk about these policies, how do you want to tolerate it?” Fink said.
