Speaking at a Wall Street Journal (WSJ) match on Tuesday, Goldman Sachs Chief Executive Officer (CEO) David Solomon said that he sees about 65% odds of the US economic system coming into a recession in 2023.
Key quotes
“Probability of a “soft landing”, that is, a slowdown in inflation that would not tip the economic system into recession for the US financial system at 35%.”
“I would outline a smooth touchdown as we get inflation lower back shut to 4% inflation, perhaps we have a 5% terminal price and we have 1% growth”
“I suppose there is a lifelike opportunity we should navigate a situation like that.”
“But I additionally assume there may be a very real looking opportunity that we should have a recession of some kind.”
He stated “stocks will be lower, oil decrease and the US Dollar to upward thrust slightly.”
