Former Goldman Sachs chief executive Lloyd Blankfein warned corporate America and US consumers to be prepared for a recession as the Federal Reserve tightens policy to combat high inflation.
Speaking to CBS News on Sunday, Blankfein, who stepped down as Goldman chief in October 2018 and remains the Wall Street bank’s senior chair, said there was a “very, very high risk” that the US economy was heading towards a recession.
“If I were running a big company, I would be very prepared for it. If I was a consumer, I’d be prepared for it. But it’s not baked in the cake,” Blankfein said.
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