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Wednesday, January 26, 2011

Larry Fink's 'New Normal' Comment is Picked Up by the Press

News summary by MFWire's editors

BlackRock CEO Larry Fink's 'new normal' comment during BlackRock's earnings call yesterday certainly has not gone unnoticed by the media.

Larry Fink
"We never believed in the 'new normal,' Fink said, referring to the term coined by Pimco CEO Mohamed El-Erian to describe a scenario of slower U.S. economic growth. "We were always talking about a U.S. economy growing 3 plus percent."

Bloomberg ran an article with the headline, "BlackRock's Fink Says He Never Believed in El-Erian's 'New Normal' Economy." The wire service's article was picked up by publications such as the San Francisco Chronicle and the UK's Telegraph.

Bloomberg rival Reuters also picked up on the comment, though it did not make that its headline. 

Edited by: Armie Margaret Lee

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