US economy seen tipping into recession in 2023 – Goldman Sachs
|Speaking at a Wall Street Journal (WSJ) event on Tuesday, Goldman Sachs Chief Executive Officer (CEO) David Solomon said that he sees about 65% odds of the US economy entering a recession in 2023.
Key quotes
“Probability of a "soft landing", that is, a slowdown in inflation that doesn't tip the economy into recession for the US economy at 35%.”
"I would define a soft landing as we get inflation back close to 4% inflation, maybe we have a 5% terminal rate and we have 1% growth"
"I think there's a reasonable possibility we could navigate a scenario like that."
"But I also think there's a very reasonable possibility that we could have a recession of some kind.”
He said “stocks will be lower, oil lower and the US Dollar to rise slightly.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.