John Waldron, president of Goldman Sachs Group, warned that the economic situation would continue to be even more severe in the midst of a series of shocks that shook the world economy. The day before, JPMorgan Chase CEO Jamie Dimon issued a similar warning.
JP Morgan’s Dimon warns in preparation for an economic “hurricane” (1)
“This is one of the most, if not the most complex and dynamic environments I’ve seen in my career,” Waldron said at an investor conference. “It’s unheard of for so many shocks to occur simultaneously in the economic system,” he said.
“It is expected that the economic situation will become even more severe in the future,” he added. “There is no doubt that the capital market environment will become more difficult.”
On the other hand, he was confident that the bank would be able to make high profits even during the economic downturn, saying, “No matter what the economic environment, we can do well.”
news-rsf-original-reference paywall">Original title:
news-rsf-original-reference paywall">Goldman’s Waldron Warns of Unprecedented Shocks, Echoing Dimon(excerpt)
