BlackRock and JPMorgan Chase are worried about the US economy

Two of Wall Street’s most influential CEOs — Larry Fink and Jamie Dimon – are raising warning flags over the nation’s economy.

BlackRock Inc’s Fink said Thursday that U.S. growth is slowing on concern whether the Trump administration’s agenda will get through Congress. Dimon lamented that “it is clear that something is wrong” with the nation in a letter to investors Tuesday. Both CEOs are part of a group of business leaders that advise President Donald Trump.

ink expressed chagrin over the pace of changes so far under the new administration. He told the U.S. economy is slowing as both consumers and businesses wait to see if the new administration can deliver on tax reform and deregulation.

“There’s a greater worry that these proposed changes are going to be harder and harder to execute,” said Fink.

Fink said the U.S. may be the slowest-growing economy in the first quarter among the G-7 nations. Japan, Canada and Europe are expanding faster than anticipated six months ago while the U.S. is lagging expectations.

Dimon used his 45-page annual letter to list ways America is stronger than ever — before jumping into a much longer list of problems.

Source Bloomberg


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