# #32 BlackRock CEO: Global Recession Looms if Iran War Continues

Page: https://stenobird.com/podcast/big-boss-interview-316999/32-blackrock-ceo-global-recession-looms-if-iran-war-continues
Text version: https://stenobird.com/podcast/big-boss-interview-316999/32-blackrock-ceo-global-recession-looms-if-iran-war-continues.md
Podcast: [Big Boss Interview](https://stenobird.com/podcast/big-boss-interview-316999)
Published: 2026-03-25T00:01:00+00:00
Episode link: http://www.bbc.co.uk/programmes/p0n8hrxv
Audio file: http://open.live.bbc.co.uk/mediaselector/6/redir/version/2.0/mediaset/audio-nondrm-download-rss-low/proto/http/vpid/p0n8hntb.mp3
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Duration seconds: 2100

## Resource

Larry Fink, is Chairman and CEO of BlackRock - the world’s largest asset manager, overseeing more than $14 trillion in investments on behalf of governments, pension funds and individual investors globally. He tells BBC Business Editor Simon Jack that oil prices could remain above $100 a barrel for years — and rise to $150 — if the Iranian conflict is not resolved, a scenario he says would trigger a “stark and steep recession”. Higher energy costs would ripple through agriculture, fertiliser, and global supply chains, acting as a regressive tax that disproportionately affects the poorest. Fink calls for “energy pragmatism”, arguing countries should use all available energy sources — from oil and gas to renewables and nuclear — to build resilience. He highlights Europe’s fragmented power systems as a structural weakness, particularly as energy demand rises with the expansion of AI infrastructure. On trade, Fink says globalisation is being recalibrated rather than reversed. Post-war trading systems that favoured certain economies are shifting towards greater symmetry, though he acknowledges tariffs are inflationary. He dismisses comparisons to the 2008 financial crisis, arguing the $2.2 trillion private credit market is transparent, with clearly defined liquidity limits. Artificial intelligence, he says, will be transformational — driving demand for massive infrastructure investment while creating large numbers of skilled blue-collar jobs. Fink argues societies have overemphasised university education and must reassess the value of skilled trades in the AI economy. Presenter: Simon Jack Producer: Olie D'Albertanson & Ollie Smith 00:15 Will Bain and Simon Jack set out who BlackRock/Larry Fink is 03:30 Larry Fink joins the podcast - discuss oil price scenarios 12:04 Glo…

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