Goldman Sachs CEO: ‘Companies Should Start Preparing for [Recession]’

EXCERPT:

SOLOMON: “What I would say when I’m advising clients is we’re going to tighten economic conditions, it’s going to have an impact on a number of things in your business that are hard to predict. You have to be thinking about your risk appetite, you have to be thinking about your planning, you have to think about the fact that we probably at some point -- that there’s a reasonable chance at some point that we have a recession or we have, you know, very, very slow, sluggish growth. And so start preparing for that. Start thinking about that. That doesn’t mean that that's definitely going to happen, but certainly I think that if you’re running a significant enterprise you have to be looking through lens with a little bit more caution right now than you might have --"
ROSS SORKIN: "Right."
SOLOMON: "-- been when we were sitting here a year ago."