Rob Kim/Getty Images Entertainment

BlackRock (NYSE:BLK) Chairman and CEO Larry Fink said Tuesday that large government spending programs, the reduced immigration, and the proliferation of remote working are contributing to inflation. That, in turn, is causing the Federal Reserve to be more aggressive and increasing the risk of a hard landing.

"Unquestionably, we're seeing governments in Europe, in the U.K., and now in the United States, we're seeing very large fiscal stimulus at a time we have very high inflation," Fink said in a phone interview on Fox Business. "And it just makes the central banks' (jobs) in Europe and the United States a much harder task."

Besides the government spending, fewer legal immigrants are entering the country. "We are down approximately 2.5M legal immigrants from the rate prior to 2017 of how many illegal immigrants were allowed," he said.

Productivity has dropped, too, which he blames on the amount of remote work since the pandemic. (Q2 productivity, unit labor costs were revised up slightly last week.) As a result, BlackRock (BLK) is "going to ask our employees to be much more mindful about their responsibilities in the office. We're going to be taking a harder line as to how do we bring our employees back. And we believe this is going to be a key element in bringing down inflation, rising in productivity."

Bringing people back into the office and stabilizing productivity "could be a great offset, and that could make the Federal Reserve's job to be a little less difficult, and it then may lead to a less aggressive Fed," Fink said.

Fink said short-term interest rates could rise to 3.5%-3.75%, "which I don't find troublesome."

In July, job openings increased to 11.2M, more than consensus.