The U.S. economy is likely headed for a recession, according to Goldman Sachs CEO David Solomon, who became the latest bank exec to warn of a looming downturn.
Center For Renewing America president Russ Vought discusses how Biden admitted that a ‘very slight recession’ is possible on ‘Fox Business Tonight.’
"I think you have to expect that there’s more volatility on the horizon now," Solomon said during an interview on CNBC. "That doesn’t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there’s a good chance thatGiven the economic uncertainty as a wave of crises including stubbornly high inflation and an increasingly aggressive Federal Reserve converge, Solomon said that it's a "time to be cautious.
While the banking executive is preparing for the likelihood of a downturn, he was more ambivalent about the possibility of a deep recession that could last for years rather than months. He indicated that government policy will play a major role in how long the downturn lasts.
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