Yet shares of BlackRock, which additionally reported earnings that topped forecasts, fell more than 2% Friday.
CEO Larry Fink acknowledged continued challenges for the worldwide economic system and monetary markets.
Soaring inflation is consuming into client’s paychecks. The Federal Reserve and different central banks around the globe are anticipated to chop charges to tame surging costs. But overly aggressive fee hikes might sluggish the economic system.
And the Omicron variant of Covid-19 might put a dent into financial exercise.
As Fink famous, “the world continues to navigate uncertainty and profound shifts in economies and societies at large.”