The US economy is in a tough spot but may still escape a recession, ex-Goldman CEO Lloyd Blankfein says
The US economy keeps on chugging despite mounting pressures and endless warnings of disaster ahead. The disconnect could mean a downturn is coming, but it won't be a severe one, Lloyd Blankfein says.
"Wall of worry: Inflation falling, yet Fed says too slowly to be done hiking rates…. Economy and payroll growing, yet economists say recession is coming," Goldman Sachs' senior chairman and former CEO"Conditions are worrisome BUT: aren't they consistent with what you'd expect heading for a soft landing?" he added.
The Federal Reserve has hiked interest rates from nearly zero to north of 5% since last spring, which has helped to curb inflation from over 9% last summer to . The US central bank has signaled it may lift rates higher, as it works to cool inflation to its target level of 2% a year.
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