BlackRock’s Larry Fink warns data center moratorium could trigger recession

The world's largest asset manager is sounding the alarm as New York pauses permits for big data centers and local bans spread across the US Larry Fink has a new item on his worry list. The BlackRock CEO warned that a moratorium on data center construction could cause a recession, according to CNBC. The warning lands just after New York enacted a one-year moratorium on environmental permits for large data centers, defined as facilities drawing 50 MW or more. The state announced the pause around July 15-16, 2026, making it the first statewide action of its kind in the US.

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