[BlackRock think tank: valuations of large US technology stocks are not in line with the macro situation] the head of BlackRock think tank Jean Boivin said that the valuations of large US technology companies are not in line with the overall macro background. Boivin said that technology stocks as a long-term proposition is reasonable, the potential of artificial intelligence is real, but rising interest rates pose a significant risk to the industry, the market does not fully reflect the macro environment. "the problem is that I don't think interest rates will fall," Boivin said. "We will see a pause at some point, and the Fed will only be inclined to cut rates if credit is overtightened." 'The macro environment is difficult for technology companies either way, 'Mr. Boivin said. On the one hand, high interest rates do not support the high valuations of large technology stocks, on the other hand, a sharp economic downturn will also be a challenge for high valuations of technology companies.