Fed is beginning to see downside of dollar updraft.
Blackrock CEO Larry Fink said the rise in the US dollar is a threat to the US recovery. Fink runs the world's largest asset management firm and said the impact will extend beyond exports.
"While the US economy as a whole is not overly exposed to exports, many of our largest and most influential companies are," Fink wrote in his chairman's letter.
"We believe that this will lead to an erosion in confidence on the part of CEOs with the potential to slow both investment decisions and future growth in the US."
Fink has been on bit of a campaign lately to encourage companies to invest in capex. He's fighting a losing battle, it's simply too easy for executives to borrow cheap and buyback shares in order to boost the share price.
