BlackRock CEO Larry Fink told CNBC he believes the U.S. may already be in a recession, citing rising uncertainty and weakening economic sentiment despite strong job growth and retail sales.

He pointed to recent tariffs and the 90-day pause as factors contributing to prolonged uncertainty.

While not seeing a financial crisis, Fink said other CEOs share his recession concerns.

BlackRock’s Q1 results were mixed, with earnings beating estimates but revenue falling short, CNBC has reported.

The firm saw $84 billion in net inflows, bringing total assets to $11.58 trillion.

Written by B.C. Begley