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Blankfein urges ‘dial back’ on negativity over economy

June 4, 2022, 5:24 PM UTC

Lloyd Blankfein, the Goldman Sachs Group Inc. senior chairman, said people should “dial back a bit” on their negativity following a series of corporate warnings on the economy. 

His comments came the same day that Elon Musk said Tesla Inc. will cut its salaried workforce by 10%, and Reuters reported that the automaker’s chief executive officer told some managers he had a “super bad feeling” about the economy.

Executives from JPMorgan Chase & Co.’s Jamie Dimon to Citigroup Inc.’s Jane Fraser and Gary Friedman, head of furniture retailer RH, this week cautioned investors to be wary of an economic downturn. Last month, Blankfein himself urged companies and consumers to gird for a U.S. recession, saying it’s a “very, very high risk.” 

The former Goldman CEO said on Twitter Friday while these are “riskier times,” the economy “may yet land softly.”

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