Goldman Sachs' senior chairman and former CEO warned that companies and consumers should prepare for a recession in the U.S.
Goldman Sachs' Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It's a 'Very, Very High Risk'
Blankfein served as chairman and chief executive officer of global investment bank Goldman Sachs from 2006 through September 2018. He remained chairman through December 2018 and is now senior chairman of the Goldman Sachs Group.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.
Commenting on the Federal Reserve’s response to inflation, he said, “I think they’re responding well.” He added, “I think the Fed has very powerful tools.”