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- The US economy ‘is chugging along pretty well’ - Goldman Sachs CEO
The US economy ‘is chugging along pretty well’ - Goldman Sachs CEO
Goldman Sachs Chief Executive David Solomon said that the chances of the U.S. economy soon entering a recession are lower now than they were earlier this year.
“I don’t see any data in any way, shape or form that leads me to believe that that chance is accelerating at the moment,” Solomon told.
Solomon told in January that he saw a 50% chance of a U.S. recession by the end of 2020. Now, however, he said he thinks the risk “feels less than that today.”
“I think the U.S. economy is growing at trend at the moment. I do think, as we came into the end of the year, there was some fear that we really were in a place where economic growth was really pivoting into very, very significant slowdown. I do think growth slowed around the world and I do think the growth trajectory slowed in the US as we finished 2018 and it’s pretty clear to me that while the first quarter was sluggish, the second quarter was chugging along pretty well and certainly we’re at trend,” Solomon added.
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