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BY JACK PHILLIPS
Former Goldman Sachs CEO Lloyd Blankfein says people should be prepared for an economic recession amid elevated inflation and record-high gas prices.
Blankfein, who led the investment banking firm between 2006 and 2018, said Americans should brace for a dim economic future, he told CBS News’ “Face the Nation” in an interview on May 15. He now holds the title of senior chairman.
“It’s definitely a risk,” he said. “If I were running a big company, I would be very prepared for it. If I was a consumer, I’d be prepared for it, but it’s not baked in the cake.”
Some of the poorest Americans will feel the worst effects of inflation, he said, adding that a recession is “a very, very high risk factor.”
