Goldman Sachs recession

Former Goldman Sachs CEO Lloyd Blankfein said on Sunday he believes the economy is at risk of possibly going into a recession, as the U.S. Federal Reserve ...

It's hard to finely tune them, and it's hard to see the effects of them quickly enough to alter it, but I think they're responding well. Speaking on "Face the Nation" on CBS, Blankfein said a recession is "a very, very high risk factor." Former Goldman Sachs CEO Lloyd Blankfein said on Sunday he believes the economy is at risk of possibly going into a recession, as the U.S. Federal Reserve continues to raise interest rates to tackle rising inflation.

Goldman Sachs Senior Chairman Lloyd Blankfein urged companies and consumers to gird for a US recession, saying it's a “very, very high risk.".

“How comfortable are we now to rely on those supply chains that are not within the borders of the United States and we can’t control?" A recession is “not baked in the cake" and there’s a “narrow path" to avoid it, he said. With high fuel prices and a shortage of baby formula tangible measures of Americans’ unease, US consumer sentiment declined in early May to the lowest level since 2011. While the slowdown will push up unemployment, Goldman was optimistic a sharp rise in joblessness can be avoided. It's a narrow path. And there's- but, you know, there's a path.

The worst-case scenario is far direr. It entails a full-fledged recession smashing the US economy, with stocks sliding another 10% to 3600 by the end of ...

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Blankfein, currently senior chairman at the Wall Street banking giant, praised the Federal Reserve and said it had the ability to avert a recession.

Read more: We interviewed the CEOs of 4 of Warren Buffett's most iconic businesses. Some of the supply chain issues will go away. Others are less pessimistic, with JPMorgan and UBS acknowledging that economic pressures will persist, but don't see a full-on slowdown. "Some of this will transition away. And that's going to involve some pain," he said. Chair Jerome Powell said further half-point rate hikes would likely follow at the central bank's policy meetings in June and July, but dismissed the chances of a three-quarter point increase.

International Business News: With inflation still remaining at an elevated level, and the Federal Reserve looking to hike interest rates rapidly, the US ...

A recession is “not baked in the cake” and there’s a “narrow path” to avoid it, he said. “Do we feel good about getting all our semiconductors from Taiwan, which is again, an object of China.” “If I were running a big company, I would be very prepared for it,” Blankfein said on CBS’s “Face the Nation” on Sunday. “If I was a consumer, I’d be prepared for it.”

Companies and consumers should prepare for the worst, but Fed still has 'narrow path' for recovery, says Goldman's senior chairman, Lloyd Blankfein.

- Print Article - Order Reprints Goldman Sachs economists lowered their forecasts for U.S. economic growth this year and the bank’s senior chairman, Lloyd Blankfein, warned companies and consumers to prepare for recession.