The Morgan Stanley CEO James Gorman speaking on the economy. Needless to say he is the head of a investment bank and his comments are cautionary on inflation and growth. Recall last week J.P. Morgan/Chase CEO Jamie Dimon said "Get ready for an economic hurricane".

Gorman was a little less descriptive and suggests there might be a squall/not a hurricane, but there is uncertainty as well. He says:

  • No one can accurately predict where inflation will be a year from now
  • Chances of a recession are 50-50 now
  • European economy is going to be slower than the North American region this year for sure
  • he still does not see a deeper longer session