Goldman Sachs Group Inc. Chief Operating Officer John Waldron says the US may avoid a recession that many economists have predicted. “This is the best predicted recession that hasn’t happened yet and may not happen,” he says at Bloomberg Invest New York 2023.

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Goldman COO Waldron Says US Recession ‘May Not Happen’

The chief operating officer of Goldman Sachs, John Waldron, recently made a statement suggesting that a recession in the United States may not be inevitable. This remark comes as many economists and analysts express growing concerns over the possibility of an economic downturn in the near future.

Waldron’s comment bucks the trend of the prevailing pessimistic sentiment surrounding the US economy. He argues that the country is experiencing strong economic growth and that indicators do not point towards an imminent recession. While the global economy has been struggling with various challenges, including trade tensions between major economies, the US has managed to navigate these headwinds relatively well.

Waldron’s optimism is grounded in some key factors, including the strength of the labor market and consumer spending. Unemployment rates in the US remain historically low, indicating a robust job market. Additionally, consumer spending, which drives a significant portion of the US economy, has shown resilience and continues to grow.

Furthermore, Waldron highlights the role of technological advancements in bolstering economic growth, particularly in the financial sector. He points out that technological innovation has the potential to unlock new market opportunities and create previously unforeseen economic benefits.

It is important to note that Waldron’s statement does not dismiss the possibility of a recession outright. He acknowledges that unforeseen events or external shocks can always disrupt the economy and lead to a downturn. However, he emphasizes that currently, there is no evidence to support the notion that an imminent recession is on the horizon.

Waldron’s remarks also reflect Goldman Sachs’ own economic outlook, which is generally positive. The investment bank recently projected steady economic growth for the US in the coming years, albeit at a slightly slower pace than previous periods. This forecast aligns with Waldron’s perspective that the US economy remains healthy and resilient.

However, it is essential to critically evaluate Waldron’s statement and consider alternative viewpoints. While the US economy may currently be performing well, it is crucial to remain vigilant and analyze other economic indicators and potential risks.

Ultimately, only time will reveal whether Waldron’s optimism was well-founded or misplaced. Until then, economists, analysts, and businesses alike will continue to monitor economic developments closely to gauge if the US can actively evade a recession.