BlackRock CEO Larry Fink warned on Monday that most chief executives would say the U.S. economy is currently in a recession. Why it matters: Fink, who has extensive CEO contacts as head of the world's largest asset manager, is the latest billionaire to acknowledge the risks of economic turmoil from President Trump's trade wars.

The world's biggest investor thinks an economic slowdown is already here. "Most CEOs I talk to would say we are probably in a recession right now," BlackRock CEO Larry Fink said Monday afternoon at an Economic Club of New York luncheon.