BlackRock CEO Larry Fink weighed in on the probability of a recession and the risk of the U.S. government defaulting on its debt on 'The Claman Countdown.'
, according to the latest data from the Treasury Department. Its size is "surprising" and represents a "huge risk" if the U.S. "does not act responsibly" and reassure its creditors, Fink said.
The Federal Reserve increased rates multiple times in 2022, including four back-to-back 75-basis-point hikes and, most recently, a 50-basis-point lift. In the minutes of the Fed’s December meeting, policymakers indicated they project rates could go up to 5.1% in 2023, as previously reported by FOX Business.
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