Larry Fink Warns of Recession Due to Data Center Construction Ban

Larry Fink, the CEO of BlackRock, warned that the introduction of a moratorium on the construction of new data centers will lead to a recession in the American economy. In an interview with CNBC, he emphasized that economic growth relies on investments in infrastructure for artificial intelligence. Fink noted that local or federal restrictions could cause GDP to slow down for two quarters. The conflict over data center construction has become a key issue in the upcoming elections in the U.S., with 49% of Americans viewing them as negative for local communities. Fink dismissed these concerns, arguing that modern infrastructure creates jobs and stimulates growth. According to Moody's, spending on data centers in the U.S. will reach $700 billion by 2026, and cumulative expenditures will reach $2.48 trillion by 2030. Fink also pointed out the rising public debt, which has increased from $8 trillion in 2000 to $40 trillion in 2026, affecting demand for credit and bond auctions.