Economics
Goldman Sachs Warns Global Economic Recovery Could Be Bumpy
- Virus re-emerging in pockets would create risks, Waldron says
- Firm still sees 2020 GDP drop offset by gains next year
A pedestrian walks down a street closed to vehicles in New York on May 12.
Photographer: Demetrius Freeman/BloombergThis article is for subscribers only.
The global economy could be in for a bumpy ride as lockdowns tied to the Covid-19 pandemic begin to ease, especially if governments start to pull back on stimulus programs, Goldman Sachs Group Inc. President John Waldron said.
“The biggest risk we all face is the economic trajectory,” Waldron said Wednesday at a virtual conference hosted by AllianceBernstein Holding LP. “The risks ahead are that it doesn’t go quite that smoothly, and you have re-emergence of the virus maybe in pockets, you have uneven start-and-stop kind of feeling around the world.”