BlackRock’s Fink Says U.S. a Year Away From Robust Growth

“BlackRock Inc. (BLK)’s Laurence D. Fink, who has been trying to persuade retail investors to get out of cash, said the U.S. is about a year away from having a more robust economy.

“When you talk about macro issues in the U.S., our banking system is far better than most banking systems and our housing crisis is 90 percent behind us,” Fink, chairman and chief executive officer of the world’s largest asset manager, said in an Oct. 1 interview from his New York office.

Fink has been urging investors for more than a year to buy equities as the U.S. economyexpanded and the stock market rallied. BlackRock today started the third phase of a five-year branding campaign, with a series of advertisements telling savers to get out of cash and low-yielding bonds and suggesting they put money in high-quality stocks, exchange-traded funds and products that generate higher income.”

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