Goldman Sachs President John Waldron is echoing warnings of tougher economic times ahead. His warning comes after Jamie Dimon, the CEO of Chase, advised investors to brace themselves for the upcoming economic “hurricane”. At the same time, Fed Vice Chair Lael Brainard says it’s unlikely that the Fed will pause rate hikes anytime soon. “Right now, it’s very hard to see the case for a pause,” she told CNBC’s Sara Eisen during a live “Squawk on the Street” interview. “We’ve still got a lot of work to do to get inflation down to our 2% target.”

 

Bloomberg via Yahoo Finance/Sridhar Natarajan
Goldman’s Waldron Warns of Unprecedented Economic Shocks, Echoing Dimon

A top Goldman Sachs Group Inc. executive echoed Jamie Dimon’s pessimistic tone, warning of tougher times ahead amid a string of shocks rattling the global economy.

“This is among — if not the most — complex, dynamic environments I’ve ever seen in my career,” Goldman President John Waldron said at an investor conference Thursday. “The confluence of the number of shocks to the system to me is unprecedented.”

Waldron’s comments echoed the stark warning on Wednesday from Dimon, JPMorgan Chase & Co.’s chief executive officer, who warned investors to prepare for a “hurricane” amid an unprecedented combination of challenges. Waldron said he’ll avoid “using any weather analogies,” but spelled out his fear that risks from inflation, changing monetary policy and Russia’s invasion of Ukraine could kneecap the global economy.

You can read the full story, here.

 

CNBC/Jeff Cox
Fed Vice Chair Lael Brainard says it’s ‘very hard to see the case’ for the Fed pausing rate hikes

Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon.

Though she stressed that Fed policymakers will remain data-dependent, Brainard said the most likely path will be that the increases will continue until inflation is tamed.

“Right now, it’s very hard to see the case for a pause,” she told CNBC’s Sara Eisen during a live “Squawk on the Street” interview that was her first since being confirmed to the vice chair position. “We’ve still got a lot of work to do to get inflation down to our 2% target.”

You can read the full story, here.

 

The Economic Times/Pawan Nahar
How much should you allocate in gold amid market uncertainty?

New Delhi: Gold has lost its sheen over the last couple of months as its prices kept dropping for two months despite economic uncertainty.

The rising US dollar and upside in bond yields are denting the sentiments for non-yielding bullion, which has no appreciation on its, own unlike other asset classes.

Gold, having an inverse relation with equities, supports investors during volatile times. This makes the yellow metal ideal for portfolio diversification during periods of high.

Continue reading, here.

 

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