Top U.S. Officials Consulted With BlackRock as Markets Melted Down

The world’s largest asset manager was central to the pandemic crisis response. Emails and calendar records underscore that critical role.

By Jeanna Smialek

As Federal Reserve Chair Jerome H. Powell and Treasury Secretary Steven Mnuchin scrambled to save faltering markets at the start of the pandemic last year, America’s top economic officials were in near-constant contact with a Wall Street executive whose firm stood to benefit financially from the rescue.

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