Salem Radio Network News Tuesday, July 14, 2020

Business

Goldman Sachs CEO says economic recovery will be rapid at first then challenged

NEW YORK (Reuters) – Goldman Sachs Group Inc’s <GS.N> Chief Executive David Solomon said on Wednesday that he expects the U.S. economic recovery to look V-shaped at first, but for that rapid growth to flatten out and become more challenged in the next 6 to 12 months.

Speaking at a Bloomberg conference, Solomon said roughly 5% of the bank’s staff have returned to work at its New York headquarters and 10-12% of staff are back at the office in London.

(Reporting By Elizabeth Dilts Marshall)

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