Some of the top figures on Wall Street sound more concerned about the persistence of inflation than the occupant of the Oval Office in 2025.

"I do believe we have greater embedded inflation in the world than we've ever seen," BlackRock (BLK) CEO Larry Fink said Tuesday at the Future Investment Initiative in Saudi Arabia, adding that "no one is asking the question, 'At what cost?'"

Few of the Wall Street figures who attended the annual Future Investment Initiative confab were willing to offer a strong prediction on whether Kamala Harris or Donald Trump would win on Nov. 5.

Citadel CEO Ken Griffin said, "It is a race that Trump is favored to win, but it's almost a coin toss."

Trump supporter and Blackstone (BX) CEO Stephen Schwarzman admitted he wasn’t sure who would win but said Trump "has a much better base of knowledge of how that job works" than he did in 2016.

Apollo (APO) CEO Marc Rowan said that "if Trump wins," he expects more mergers and acquisitions to happen (Disclosure: Yahoo Finance is owned by Apollo Global Management.)

No matter who wins the election, most finance bosses are concerned that inflation will prove to be stickier than expected. Thus they aren't expecting interest rates to come down as quickly as traders currently expect.

"We're not going to see interest rates as low as people are forecasting," BlackRock’s Fink said.

The Fed is expected by traders to lower interest rates next week by another 25 basis points and then again in December, following an initial 50 basis point cut in September. The September cut was the first in more than four years, following an aggressive campaign by the central bank to tamp down inflation.

Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards

But when asked by one moderator Tuesday in Saudi Arabia to raise their hands if they expected the Fed to bring rates down by a further 50 basis points this year, not one finance boss on a panel did so.

The group included Carlyle (CG) CEO Harvey Schwartz, Citigroup CEO Jane Fraser, Goldman Sachs CEO David Solomon, Morgan Stanley (MS) CEO Ted Pick, and State Street (STT) CEO Ron O'Hanley.

"Inflation is more embedded in the global economy than the current narrative," Solomon said. "That doesn't mean that it's going to rear its head in a particularly ugly way, but I do think there's a potential, depending on policy actions that are taken."

JPMorgan Chase (JPM) CEO Jamie Dimon said Monday at an annual convention held by the American Bankers Association that he also is worried about the return of rising inflation.