Federal Reserve chairman Jerome Powell and other central bankers continue to say ad infinitum that inflation is "transitory." The rising prices for used cars, food and other goods are due to Covid-related supply chain disruptions and will eventually pass.
But Larry Fink, the CEO of asset management giant BlackRock (BLK), isn't buying that argument.
"I worry about inflation. I do not believe inflation is going to be transitory. It's going to be more systematic," Fink said in an interview on CNBC Wednesday morning after the company reported stellar earnings. He added that it will be "very important" to see how the Fed and other global central banks navigate the threat of higher inflation.
Fink told CNBC he's also concerned about the extremely contagious Delta variant of Covid-19.
"Can that slow down parts of Asia? We are seeing a real disconnect between the companies that are very vaccinated and moving forward on vaccination and countries that have been late in vaccination," he said.
Fink said that as a result, there will be "unevenness" in the global recovery and there could be "disappointments going forward." But he's still bullish because of continued fiscal and monetary stimulus.