Goldman Sachs President Warns of 'Unprecedented' Economic Shocks and Tougher Times Ahead
Global investment bank Goldman Sachs’ president and chief operating officer has warned of unprecedented economic shocks and tougher times ahead. His statement echoes JPMorgan CEO Jamie Dimon’s warning that a “hurricane” is coming our way.
The top Goldman Sachs executive elaborated:
"We’ve obviously been through lots of cycles, but the confluence of the number of shocks to the system, to me, is unprecedented. We expect there’s going to be tougher economic times ahead. No question we are seeing a tougher capital-markets environment."
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