"Goldman Sachs Senior Chairman Lloyd Blankfein urged companies and consumers to gird for a US recession, saying it’s a 'very, very high risk.'” - Bloomberg, May 15, 2022.
That's what Blankfein projected on "Face the Nation" today.
Goldman Sachs backs that up with reduced GDP growth estimates. For 2022, it reduced that from 2.6% to 2.4%. For 2023, from 2.2% to 1.6%.
The implications are grim for those who saddled themselves with a house mortgage and whose employment could go poof. For law firm litigation pratices, which have been recovering, that could be bad news. In an economic downturn, corporations tend to put on-hold "elective" litigation.
Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com.
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