Goldman Sachs CEO says economic outlook is uncertain despite soft landing prospects

📆 9/12/2023 8:40 PM
📰 YahooFinanceCA

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Goldman Sachs CEO David Solomon said the U.S. economy is likely to avoid a significant recession, but warned inflation is likely to be more persistent than market participants currently expect. 'The chance of having a relatively soft landing and navigating through this has gone up very meaningfully over the last 12 months,' Solomon told Reuters in an interview. The Federal Reserve has tamed inflation via interest-rate increases, but it may need to take further action, he said.

20 hours ago -- After staving off recession for longer than many thought possible, the US consumer is finally about to crack, according to Bloomberg’s latest Markets Live Pulse survey.

The revised forecast Monday from the European Commission, the EU’s executive arm, comes as fears of recession grow and as the European Central Bank faces a key decision this week on whether to keep raisingThe Canadian Bankers Association's CEO Anthony Ostler said the government was "singling out the banks".

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