You don't need 5.5% interest rates when inflation gets down to the high 2% yearly range, says former Goldman Sachs chairman and CEO Lloyd Blankfein.
The Federal Reserve probably won’t need to keep interest rates higher for longer, Lloyd Blankfein, the former Goldman Sachs chairman and CEO, said Tuesday.
“Inflation is probably within the 3s. Let’s say you successfully get it to the high 2s,” Blankfein said Tuesday during a talk on commercial real estate and the economy. “You don’t need 5½ percent interest rates at that point, when inflation is relatively subdued.” The Fed last week also fortified a “higher for longer” stance by revising its forecast for rate cuts in 2024 to two, down from four, a move that spooked the stock market and sparked a surge in longer-dated Treasury yields.
Rising long-term bond yields can signal recession concerns, since higher benchmark borrowing costs have in the past been prone to pinching corporate profits, spurring a wave of defaults and slowing economic growth.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
The Code Conference is about to get started.Day one kicks off with Rivian CEO RJ Scaringe, AMD CEO Lisa Su, Roblox CEO David Baszucki, and Warner Music Group CEO Robert Kyncl.
Weiterlesen »
| A Frank Lloyd Wright Home in Milwaukee Lists for the First Time in Almost 70 YearsDesigned by the famed architect, the house is hitting the market for $1.5 million
Weiterlesen »
Christopher Lloyd’s ‘Spirit Halloween: The Movie’ to Stream on ShudderThe 2022 film based on the Spirit Halloween costume store will make its way to Shudder on Oct. 2.
Weiterlesen »
Lloyd’s Restaurant to shutter Inverness location after 86 years in Birmingham metroOne of Alabama's oldest restaurants will still operate its Sylacauga location.
Weiterlesen »
Hedge funds are boosting bets against U.S. stocks as selloff continues, Goldman Sachs saysHedge funds have been ramping up bets against U.S. stocks amid the worst streak of losses for the S&P 500 since the collapse of Silicon Valley Bank,...
Weiterlesen »
Credit card losses rising at fastest pace since 2008, according to Goldman SachsFor Americans with credit card debt, a troubling trend is emerging–one that's usually associated with a financial crisis.
Weiterlesen »