Former Goldman CEO Warns of Potential Recession: ‘Very, Very High Risk Factor’

Lloyd Blankfein, Senior Chairman, The Goldman Sachs Group, Inc. speaks at the New York Times DealBook conference on November 1, 2018 in New York City. (Photo by Stephanie Keith/Getty Images)
Stephanie Keith/Getty Images

Appearing on CBS’s Face the Nation, former Goldman Sachs CEO Lloyd Blankfein warned the United States could plunge into a recession.

A transcript is as follows:

MARGARET BRENNAN: Do you think we’re headed towards recession?

LLOYD BLANKFEIN: We’re certainly heading — it’s a very, very high risk factor. There’s a path, a narrow path, but I think the Fed has very powerful tools. It’s hard to finely tune them and hard to see the effects of them quickly enough to alter it. But I think they are responding well. It’s definitely a risk. If I was running a big company I would be very prepared for it. If I was a consumer, I would prepared for it. But it’s not baked in the cake.

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