Unfortunately, the only name in town is the ECB, they're trying to do whatever they can do to do it. I think now with all the negative rates, and with 82 % of savings in a bank account, I just don't see how that transmission works as well as lowering rates in the United States.

Chief Executive Larry Fink

Categorized in : Business

It makes sense in the U.S. economy, it makes much less sense in economies where most of the pool of assets of individuals are sitting in a bank account. I see negative impact. That is why I've always questioned monetary policy without a large, I would say, equity culture. That's really what's happened in Japan and in Europe.

Chief Executive Larry Fink

business

I don't see how if they( the ECB) do more easing, which means - deeper negative rates - I don't know how that transmission( works) in the economy.

Chief Executive Larry Fink

business