A fierce competition to raise capital is likely to keep interest rates elevated long term, regardless of what happens with inflation, says BlackRock Chief Executive Larry Fink.
The capital-intensive AI buildout is coming at the same time as record federal budget deficits that need to be plugged with debt, creating a surge of bond issuance, Fink told analysts on BlackRock's third-quarter earnings call Wednesday morning.
"All that means we're going to have structurally higher interest rates for longer," he said.
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