Posted 10/27/2023, 6:28:20 PM
Goldman Sachs CEO Cautions Economic Slowdown Ahead as Fed Rate Hikes Cool Housing Market
- Goldman Sachs CEO warns Fed rate hikes will be a "shock to the system" for the economy
- CEO says economic activity will slowdown, inflation will be "sticky", Fed may hike rates further
- Mortgage rates near 8% again, home sales projected to slow in 2023 due to higher rates
- Tight lending environment leads to housing market cool down, but not like 1970s-80s rates
- Overall economy resilient but uncertainty in 2024, geopolitics could hurt confidence and activity
