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Goldman Sachs expects US inflation to come in below 4 per cent this year, while growth in equities will be relatively flat, according to Meena Lakdawala-Flynn.
“In the US, we do think that inflation is peaking right about now,” Lakdawala-Flynn, co-head of global private wealth management, said at the Bloomberg Wealth Summit in New York. “We think the probability of a recession has increased in 2023.”
She said the wealthy clients her unit caters to are focused on profitability and are looking for exposure to assets in health care, energy and disruptive technology, as well as real estate.
“Within equities we’re recommending that our clients have exposure to names that have pricing power, that have strong margins,” said Lakdawala-Flynn, who has led the business since early 2021 along with John Mallory.
She also said there’s interest in digital assets like NFTs and cryptocurrencies.
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