Goldman Sachs CEO warns: If economic growth remains weak, the United States will face debt "liquidation".

Goldman Sachs CEO David Solomon warned that if the pace of economic growth in the United States cannot be increased, the escalating debt levels could lead to an "reckoning" for the economy. Solomon said, "If we continue along the current path without increasing growth levels, there will be a reckoning." "The way out of this dilemma is through growth." The Wall Street executive also expressed his belief that the likelihood of an economic recession in the short term is "low." Solomon's remarks echo widespread concerns that the United States and other Western economies are increasingly reliant on debt-driven stimulus policies. This trend has been particularly notable during the pandemic, when large-scale stimulus measures taken by governments boosted consumer spending. Solomon stated, "Fiscal stimulus and aggressive fiscal policies have become deeply ingrained in the economic operations of these democratic countries." He pointed out that the financial industry is growing increasingly concerned about the debt situations in the United States and other developed countries, noting that "this trend has significantly accelerated in the past five years." Earlier this week, Solomon dismissed concerns from the outside world about a possible "systemic" crisis in the US credit market, believing that several high-profile bankruptcy events would not lead to systemic risk. Additionally, earlier this month, benefiting from growth in merger and acquisition transaction fee income, Goldman Sachs reported record third-quarter revenue. On the same day, the bank also informed its 48,300 employees that layoffs will continue this year as the application of artificial intelligence technology is improving the bank's operational efficiency.