India is critical to Goldman Sachs both in terms of the global investment banking franchise and from the human capital perspective, CEO David Solomon told Bodhisatva Ganguli and Arijit Barman in an interview. Edited excerpts:
You were quoted recently saying you see a 30% chance of the US in a recession at some stage. Do you see a stagflation kind of scenario with high inflation, low growth?
To be clear, what I said is that Goldman Sachs Research predicts a 30% chance of recession. The inflation we are dealing with around the world is significant given a whole variety of factors that occurred leading up to and during the pandemic, including the various government and monetary responses. Now we have to unwind and it’s going to take some time through a variety of different scenarios. In the US, the Fed has a lot of tools at its disposal. It is certainly on the case and using them. As you can see, US economic conditions are starting to…
