**[John Waldron, President & Chief Operating Officer, Goldman Sachs: Economic Crosscurrents and the Road Ahead](https://www.youtube.com/watch?v=[VIDEO_ID])**
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In this interview, John Waldron, the President & Chief Operating Officer at Goldman Sachs, sits down with Bloomberg’s Sonali Basak to discuss the current state of the economy and the challenges it faces.
#### Key Points Discussed:
– Waldron acknowledges the complex nature of the current economic landscape, citing both positive and negative factors at play. He highlights the debate surrounding the possibility of a recession, indicating that uncertainty and crosscurrents persist.
– The conversation shifts to the topic of inflation and its potential long-term effects. Corporate clients express concerns about persistent inflation, particularly in the supply chain and labor market. These factors could put pressure on margins and create challenges for businesses.
– Waldron emphasizes the need for better growth and increased productivity. He highlights potential avenues for growth, such as investment in generative AI and advancements in life sciences.
– Risk appetite among clients, according to Waldron, remains lower as a result of ongoing uncertainties. CEOs are cautious, and there is a general sense of muted risk appetite in the market.
– Underlying concerns revolve around the potential impact of slower growth and higher inflation on consumer demand. Firms are preparing for a scenario where economic activity declines and purchasing power is reduced.
– Factors such as inflation and geopolitical tensions, particularly regarding the US-China relationship and the war in Ukraine, further contribute to economic uncertainty.
Watch the full interview for more insights into the economic landscape and the challenges lying ahead.
*Source:* [Bloomberg Invest New York 2023](SOURCE_LINK)
*Timestamp:* 0:00 – 12:34
John Waldron, President & Chief Operating Officer, Goldman Sachs speaks with Bloomberg’s Sonali Basak at Bloomberg Invest New York 2023.
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