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Goldman’s Solomon Says US Recession Odds Decreased, HKEJ Reports
Goldman Sachs Group Inc. Chief Executive Officer David Solomon said the chance of a US recession fell meaningfully compared with a year ago, Hong Kong Economic Journal reported Monday, citing an interview with the Wall Street executive. He repeated his assessment early this year of improved odds of a soft landing for the economy. The bank’s economists in September cut their estimate of the chances of a US recession to 15%, down from 20% previously, on cooling inflation and a still-resilient labor market. The forecast was well below a Bloomberg consensus of 60%. Read: Goldman Sachs, Morgan Stanley Diverge on Fed ... (full story)