Ex-Goldman Sachs CEO Warns Americans to Prepare for Economic Recession

Lloyd Blankfein, former CEO of Goldman Sachs, testifies before the Senate Homeland Security and Governmental Affairs Investigations Subcommittee on Capitol Hill on April 27, 2010 in Washington. Mark Wilson/Getty Images

Former Goldman Sachs CEO Lloyd Blankfein says people should be prepared for an economic recession amid elevated inflation and record-high gas prices.

Blankfein, who led the investment banking firm between 2006 and 2018, said Americans should brace for a dim economic future, he told CBS News’ “Face the Nation” in an interview on May 15. He now holds the title of senior chairman.