Recession Or Not, Here We Come!!
This week, Goldman Sachs Chief CEO David Solomon struck a downbeat note about the economic outlook saying smaller bonuses and even potential job cuts should come as no surprise in 2023.
Another downbeat statement came from Bank of America CEO Brian Moynihan who said that while consumers are still spending more now than a year ago, the "rate of growth in spending is starting to slow" and "deposits balances are starting to come down." Moynihan also said that Bank of America will see three quarters of negative growth in 2023 – in other words, a recession.
Lastly, JPMorgan CEO Jamie Dimon told CNBC that we could have a “mild to hard recession” next year.
And there you have it, more Wall Street statements on the most predicted recession ever.