Μείνετε συντονισμένοι

Θέλετε να μη χάνετε κανένα νέο σε ότι έχει σχέση με τα κρυπτονομίσματα? Αποθηκεύστε τη σελίδα στα αγαπημένα σας

Translate

Αναζήτηση αυτού του ιστολογίου

Πέμπτη 20 Οκτωβρίου 2022

Goldman Sachs CEO Sees Good Chance of Recession — Advises Investors to Be Cautious, Prepare for More Difficult Environment

The CEO of global investment bank Goldman Sachs, David Solomon, sees a good chance of a U.S. recession. He stressed that the “environment heading into 2023 is one that you’ve got to be cautious and prepared for.”

Goldman Sachs CEO Warns About U.S. Recession, Advises Investors to Be Cautious

Goldman Sachs CEO David Solomon warned about where the U.S. economy is headed in an interview with CNBC Tuesday. He said:

I think it’s a time to be cautious, and I think that if you’re running a risk-based business, it’s a time to think more cautiously about your risk box, your risk appetite.

“I think you have to expect that there’s more volatility on the horizon now,” the Goldman CEO continued. “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 that we have a recession in the United States.”

However, the executive noted: “The fundamentals really don’t change. The leadership does move to different places, but it’s the same leadership.”

Solomon explained that investors need to be conscious of the challenges ahead, elaborating:

That environment heading into 2023 is one that you’ve got to be cautious and prepared for.

“In an environment where inflation is more embedded and growth is slower, you know, asset appreciation will be tougher,” he cautioned. “Are we going to get rooted in that kind of a decade-long scenario? I don’t know.”

The Goldman boss detailed that public policy in areas such as energy and immigration will be key in determining where the U.S. economy is headed. He concluded:

If you’re a risk manager right now, I think you have to prepare for a more difficult environment in 2023.

Goldman Sachs released its third-quarter earnings results Tuesday. While profit fell 43% to $3.07 billion, or $8.25 a share, it exceeded the $7.69 estimate of analysts surveyed by Refinitiv. In addition, revenue dropped 12% to $11.98 billion.

Solomon also officially announced a corporate reorganization on Tuesday. The CEO stated:

Today, we enter the next phase of our growth, introducing a realignment of our businesses that will enable us to further capitalize on the predominant operating model of One Goldman Sachs.

“We are confident that our strategic evolution will drive higher, more durable returns and unlock long-term value for shareholders,” he affirmed.

Solomon’s counterpart at JPMorgan Chase, Jamie Dimon, recently warned that a recession could hit the U.S. economy in six to nine months. In a recent survey, 98% of CEOs said they are preparing for a U.S. recession. President Joe Biden, however, is not worried, stating over the weekend that the economy is “strong as hell.”

What do you think about the comments by Goldman Sachs CEO David Solomon? Let us know in the comments section below.



from Bitcoin News

Δεν υπάρχουν σχόλια:

Δημοσίευση σχολίου

Lawmaker Pleads With Sam Bankman-Fried to Attend Congress Hearing on FTX — SBF Says He’ll Testify When He’s Ready

Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) ...