Goldman Sachs CEO David Solomon said that the chances for the US economy to enter the recession are lower than earlier this year.
"I do not see how and how to get into a recession in any way, given the data that for the moment only show acceleration of the growth rate," Solomon told CNBC.
At the beginning of the year, Goldman Sachs would appreciate the chances of recession by 50% by the end of 2020. But now, it is precisely this risk for them has dropped significantly.
Investors with solace welcomed the position of the investment bank, especially since the market was frightened by the crossing of the yield curve last month. It is this event that is considered an early signal of an impending recession. Especially for the curve, Solomon expressed his low concern.
Solomon said, "I think the US economy is moving very well, I think we are currently in a period of strong growth."
Source: CNBC
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.