Goldman Sachs CEO David Solomon said Wednesday the chances of a recession are quite small, even though the rate of economic growth is slowing.
“There is no question that the momentum of growth in the United States has slowed,” Solomon told Leslie Picker on CNBC’s “Closing Bell.” “That said, economic activity in the United States is still chugging along pretty well. I think we’re in a position, at the moment, where we should see reasonable growth during the course of the year.”
“The chance of recession in 2019 is quite small and the expansion should probably continue,” Solomon added.
Investors are worried that after a year of solid economic growth, the economy could fall into a recession, especially while the U.S. and China try to strike a trade deal. Both countries have until early March to come to terms on trade. If that does not happen, additional U.S. tariffs on Chinese goods could take effect.
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