David Solomon's morning keynote conversation started the Forbes Iconoclast Summit on Monday, June 12.lmost midway through 2023, markets have bounced back from a lousy 2022 more robustly than many investors inspected, but fears of a recession haven’t faded completely.
“The economy’s been incredibly resilient,” Solomon said, “but if you’re running a business like ours, you have to be prepared for the downside…. I’ve got a sense that inflation is going to be a little stickier than the current market expectation.” Solomon ended the conversation on a higher note about the state of capitalism and free markets in the U.S. “The system’s not perfect, but I think it’s the best system there is,” he said. “We need to advocate for the fact that this is something most of the world looks at and strives for.
Downturn conditions for the market and regulatory uncertainty for banking also make Europe an attractive region for banks to expand their businesses to, said Callahan Erdoes, emphasizing the need for a long-term view. “You have to stress-test your portfolio.”The Changing World Order
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