Goldman Poll Finds Insurers With $13 Trillion Expect a U.S. Recession

Insurance executives who oversee more than $13 trillion in assets expect the U.S. to enter a recession in the near future, according to an annual survey conducted by Goldman Sachs Group Inc.

Of 328 chief investment officers and chief financial officers polled, more than 60% anticipate the world’s largest economy will experience a downturn in the next two to three years. The results indicate “a clear shift in outlook globally,” Goldman said in the report.

In another departure from prior results, 59% of respondents identified inflation as one of the top three macroeconomic risks to investment portfolios, with 28% ranking it No. 1. Meanwhile, 43% listed tightening U.S. monetary policy among their top three, with 20% assigning it to the top slot.

The change in perspective arrives as Federal Reserve officials signal they will take aggressive steps to rein in spiraling costs and wages. The consumer price index hit a 40-year high last month, while robust jobs data published Friday added to mounting evidence that the economy is overheating. Goldman conducted its survey before Russia invaded Ukraine, and the war has only worsened supply-chain snarls and materials shortages. Insurers are evaluating investments that could help them counter those risks.

By NC ScoutPublished On: April 5, 2022Categories: UncategorizedComments Off

About the Author: NC Scout

NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at [email protected] or via his blog at brushbeater.wordpress.com .