Complete Story


Bank CEOs Say Economic Pessimism is Lifting

Meanwhile, consumer spending remains robust

Companies and households are feeling better about the economy despite elevated uncertainty and recession predictions, the heads of top U.S. banks said Tuesday.

Goldman Sachs Group Chief Executive Officer David Solomon said sentiment among business leaders has improved. His counterpart at Bank of America, Brian Moynihan, cited resilient consumer finances and spending as positive signs. But both leaders cited risks to the economy, including inflation, and said they would keep a lid on hiring this year to constrain costs.

"While it's still very, very uncertain, the consensus has shifted to be a little bit more dovish in the CEO community that we can navigate through this in the United States, with a softer economic landing than what people would have expected six months ago," Solomon told investors at a conference in Florida.

Please select this link to read the complete article from Reuters.

Printer-Friendly Version