Former Goldman Sachs CEO Lloyd Blankfein said that people should be prepared for an economic recession amid elevated inflation and record-high gas prices.
When asked during a CBS News interview Sunday, former CEO Lloyd Blankfein said Americans should brace for a dim economic future. Blankfein was the head of the investment banking firm Goldman Sachs between 2006 and 2018, and was in charge during the 2008 economic downturn when he oversaw his company taking a $10 billion Treasury Department’s Troubled Asset Relief Program around the same time.
“It’s definitely a risk,” he said. “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.”
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