Goldman’s Lloyd Blankfein calls for “calling back” negativity over the economy



Lloyd Blankfein, senior president of the Goldman Sachs Group Inc., said people should take a series of warnings from businesses about the economy to “withdraw a little” about their negativity.

His comments came the same day Elon Musk said Tesla Inc. reduced its payroll by 10%, and Reuters reported that the carmaker’s chief executive told some managers he had a “super bad feeling” about the economy.

Executives Jamie Dimon of JPMorgan Chase & Co to Jane Fraser of Citigroup Inc. and Gary Friedman, head of the Croatian furniture retailer, warned investors this week to be wary of the economic recession. Last month, Blankfein himself urged businesses and consumers to push for a recession in the U.S., saying it was a “very, very big risk”.

The former CEO of Goldman said on Twitter on Friday that these were “riskier times” and the economy “may still be soft landing”.

Dear reader,

Business Standard has always sought to provide up-to-date information and commentary on events that interest you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offer have only strengthened our determination and commitment to these ideals. Even in these difficult times stemming from Covid-19, we remain committed to keeping you informed and informed with credible news, authoritative views, and penetrating comments on current issues that matter.
But we have a request.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to offer you better quality content. Our subscription model has met with an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve our goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your multi-subscription support can help us carry out the journalism we are committed to.

We support quality journalism and subscribe to Business Standard.

Digital editor

Elvira Parkinson

"Alcohol scholar. Hardcore tv junkie. Wannabe bacon enthusiast. Twitter fanatic. Subtly charming travel guru. Pop culture specialist."

Leave a Reply

Your email address will not be published.