June 28, 2022
goldmansachs

goldmansachs

Former Goldman Sachs CEO and current senior chairman Lloyd Blankfein has warned of an oncoming recession in the United States.

Former Goldman Sachs CEO and current senior chairman Lloyd Blankfein has warned of an oncoming recession in the United States. He emphasized that businesses and consumers should be prepared.

We’re certainly heading. It’s certainly a very, very high risk factor … If I were running a big company, I would be very prepared for it. If I was a consumer, I’d be prepared for it.

According to Goldman Sachs CEO Lloyd Blankfein, a recession is “not baked in the cake,” and there is a “narrow route” to prevent it. “There’s an imbalance, too much demand,” the former Goldman CEO explained.

You have to slow down the economy. And so they’re going to have to raise rates. They’re going to have to curtail, hopefully reduce the number of positions that are unopened because they- and increase the size of the labor force.

According to Goldman Sachs CEO Lloyd Blankfein, inflation and supply chain shocks will persist for some time, but the Ukrainian war will finally stop.

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