Goldman's Lloyd Blankfein Urges to Dial Back on Negativity

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Goldman's Lloyd Blankfein Urges to Dial Back on Negativity
04 Jun 2022
4 min read

News Synopsis

Goldman Sachs Group Chairman Lloyd Blankfein said people should "dial back a bit" after a series of corporate warnings about the economy. The former Goldman CEO said on Twitter on Friday that while these are riskier times, the economy may yet land softly. 

His comments came on the same day that Elon Musk said Tesla would cut its workforce by 10%, and Reuters reported the automaker's chief executive officer had "very bad feelings" about the economy. 

JPMorgan Chase & Co. Jamie Dimon and Citigroup Inc's and executives Jane Fraser and Gary Friedman, head of furniture retailer RH, warned investors this week to be aware of the recession. Last month, Blankfein himself urged businesses and consumers to prepare for the US recession, saying it was a "very, very high risk."

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