BlackRock CEO Larry Fink has warned that the global economy is currently facing "profound implications" due to surging energy costs, noting that "if the price of oil hits $150 a barrel, it will trigger a global recession."

Axar.az reports, in a recent interview on Bloomberg Podcast, Fink explained that the fate of the world’s financial stability now hinges largely on Iran's role in the Middle East, presenting a choice between a return to pre-crisis stability or years of sustained high costs.

He characterized these rising expenses as a "regressive tax" that disproportionately impacts lower-income populations, stating, "Rising energy costs are a very regressive tax. They hit the poor harder than the rich."

Addressing the state of the U.S. domestic market, Fink suggested that the country may already be in the early stages of a downturn, remarking that "most CEOs I talk to would say we are probably in a recession right now." He cited the airline industry as a primary indicator of this decline, sharing a conversation with a specific executive who described the sector as the "proverbial canary in the coal mine" before adding,

"I was told that the canary is sick already." Despite this grim outlook, Fink emphasized that if the administration focuses on "pro-growth agendas" such as deregulation and streamlining permits, the U.S. could eventually return to a major growth trajectory.