Search ForexCrunch

Speaking at Bloomberg event on Thursday, Goldman Sachs Chief Executive Officer (CEO) David Solomon said that he still sees a V-shaped recovery for the US economy this year.

Key quotes

“This crisis has had a profound impact on the economic environment that we’re operating in”

“My guess is when you look at the shape of the recovery, the initial shape is going to look quite like a V.”

“Uncertainty still persists, as the secondary shocks could endanger recovery.”

“The US economic bounce-back will slow after 2020.”

“I do think we’re going to see a sharp V to start with, but it’s very open-ended as to what kind of economic friction we’re going to see as we get through the end of the year and into 2021.”

“I think it’s going to take quite a while for us to get back to where we were before this started.”