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Goldman Sachs CEO: The US economy 'is chugging along pretty well'


Added 04-16-19 11:02:02pm EST - “Goldman Sachs Chief Executive David Solomon said Wednesday that the chances of the U.S. economy soon entering a recession are lower now than they were earlier this year.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “Goldman Sachs CEO: The US economy 'is chugging along pretty well'”. Below is an excerpt from the article.

Goldman Sachs Chief Executive David Solomon said Wednesday that the chances of the U.S. economy soon entering a recession are lower now than they were earlier this year.

"I don't see any data in any way, shape or form that leads me to believe that that chance is accelerating at the moment," Solomon told CNBC's Tanvir Gill in Ningbo, China.

The Goldman chief had told CNBC in January that he saw a 50 percent chance of a U.S. recession by the end of 2020. Now, however, he said he thinks the risk "feels less than that today."

That will come as a welcome assessment for investors concerned by the inversion of the U.S. bond yield curve last month. That event — when long-term debt yields moved lower than short-term debt yields— is seen by many to be a reliable recession indicator, so many in the market found the development worrisome.

"I think the U.S. economy is chugging along pretty well. I think the U.S. economy is growing at trend at the moment," he said.

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