The US economy has been surprisingly resilient this year, but painful bumps are likely coming, Goldman Sachs CEO David Solomon said
“I think we’re at an uncertain moment,” said Solomon of his current economic outlook. “I think it’s a period to be a little bit cautious.” Solomon forecast that the US economy could find itself in an environment “that might not be a recession, but it certainly would feel like a recession.” That would mean avoiding a hard landing but still muddling through “sluggish growth and sticky inflation,” he said.
About 65% of commercial real estate lending falls into the mid-sized banking system, he said. “In this environment, that will constrain additional lending. That makes capital more attractive and it crowds out some economic activity,” he said. “That’s just something we’re going to have to work through. There will probably be some bumps and some pain along the way for a number of participants.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs CEO: I've been surprised at economy's resilience over the last yearDavid Solomon, Goldman Sachs chairman & CEO, joins 'Squawk on the Street' to discuss the resilience of the U.S. economy, if the Federal Reserve still has a lot of work to do, and how macro headwinds impact investment banking and trading.
Read more »
Goldman Sachs CEO David Solomon warns of pain ahead for commercial real estateThe commercial real estate industry is in the throes of a painful adjustment to higher borrowing costs and lower occupancy rates.
Read more »
9 stocks hedge and mutual funds love: Goldman SachsGoldman Sachs analyzed 1,246 hedge and mutual funds with a combined $4.8 trillion in holdings. Here are the 9 stocks they agree are worth buying.
Read more »
Goldman Sachs slashes oil price forecast by nearly 10% as Russian supply recoversRussia's oil production has remained resilient even in the face of Western sanctions.
Read more »
Goldman Sachs cuts its December Brent oil-price forecast by nearly 10%Goldman Sachs reduces its December forecast for global benchmark crude prices by almost 10% to $86 a barrel this week, blaming higher-than-expected supplies...
Read more »
Goldman Sachs analysts see more ‘inflation relief’ coming this year, at least ‘beyond the next couple of prints’Goldman Sachs Group analysts see potential for some more inflation cooling this summer.
Read more »