{"id":37337,"date":"2022-06-05T06:18:40","date_gmt":"2022-06-05T06:18:40","guid":{"rendered":"https:\/\/harchi90.com\/goldman-sachs-president-warns-of-unprecedented-economic-shocks-and-tougher-times-ahead-economics-bitcoin-news\/"},"modified":"2022-06-05T06:18:40","modified_gmt":"2022-06-05T06:18:40","slug":"goldman-sachs-president-warns-of-unprecedented-economic-shocks-and-tougher-times-ahead-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/harchi90.com\/goldman-sachs-president-warns-of-unprecedented-economic-shocks-and-tougher-times-ahead-economics-bitcoin-news\/","title":{"rendered":"Goldman Sachs President Warns of ‘Unprecedented’ Economic Shocks and Tougher Times Ahead – Economics Bitcoin News"},"content":{"rendered":"
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Global investment bank Goldman Sachs’ president and chief operating officer has warned of unprecedented economic shocks and tougher times ahead. His statement by him echoes JPMorgan CEO Jamie Dimon’s warning that a \u201churricane\u201d is coming our way. <\/strong><\/p>\n

Goldman Sachs President’s Warning About the US Economy<\/h2>\n

Goldman Sachs President and Chief Operating Officer John Waldron shared his outlook for the US economy at a banking conference Thursday.<\/p>\n

Commenting on current economic conditions, he said: “This is among – if not the most – complex, dynamic environment I’ve ever seen in my career.” The top Goldman Sachs executive elaborated:<\/p>\n

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We’ve obviously been through lots of cycles, but the confluence of the number of shocks to the system, to me, is unprecedented.<\/p>\n<\/blockquote>\n

Waldron’s comments echoed a similar warning by JPMorgan Chase CEO Jamie Dimon, who said Wednesday that there is a \u201churricane\u201d coming our way. “You better brace yourself,” he advised.<\/p>\n

Noting that he will refrain from \u201cusing any weather analogies,\u201d the Goldman Sachs president shared his concerns that risks from inflation, changing monetary policy, and the Russia-Ukraine war could hurt the global economy.<\/p>\n

Waldron continued:<\/p>\n

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We expect there’s going to be tougher economic times ahead. No question we are seeing a tougher capital-markets environment.<\/p>\n<\/blockquote>\n

The Goldman executive also named several alarming factors hurting the economy, including a commodity shock and an unprecedented amount of monetary and fiscal stimulus.<\/p>\n

A growing number of people have raised the alarm about the US economy, predicting that a recession is imminent.<\/p>\n

This week, Tesla CEO Elon Musk said he has a \u201csuper bad feeling\u201d about the economy, prompting President Joe Biden to respond. Musk also said we are in a recession that could last 12 to 18 months.<\/p>\n

Besides Musk, others who have warned about an upcoming recession include the Big Short investor Michael Burry and Soros Fund Management CEO Dawn Fitzpatrick. However, one of the most gloomy predictions came from Rich Dad Poor Dad author Robert Kiyosaki who said that markets are crashing and a depression and civil unrest are coming.<\/p>\n

What do you think about the comments by Goldman Sachs’ top executive? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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Kevin Helms <\/h6>\n

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A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests di lui lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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