'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Former Goldman Sachs CEO Lloyd Blankfein said on Sunday he believes the economy is at risk of possibly going into a recession, as the U.S. Federal Reserve continues to raise interest rates to tackle rising inflation.
Speaking on "Face the Nation" on CBS, Blankfein said a recession is "a very, very high risk factor."
"There's a path. It's a narrow path," said Blankfein, who retired from Goldman Sachs several years ago and now holds the title of senior chairman.
"But I think the Fed has very powerful tools. It's hard to finely tune them, and it's hard to see the effects of them quickly enough to alter it, but I think they're responding well. It's definitely a risk."
Last week, Federal Reserve Chairman Jerome Powell acknowledged that increasing interest rates will "include some pain," but added that a far worse outcome would be for prices to continue spiking. Read full story
In March, the Fed approved a quarter-percentage-point rate increase. But some analysts say they fear policymakers have fallen too far behind to curb price increases without the sort of sharp rate hikes that might cause a recession.
Blankfein told CBS he agrees with Powell's assessment, and said some of the inflationary effects the economy is enduring now will be "sticky."
"Overall for individuals, and certainly for individuals at the bottom quartile of the ... pie sharing, it's going to be quite difficult and oppressive," he said.
Blankfein served as CEO at Goldman Sachs from 2006 through 2018, a tenure that included the tumultuous financial crisis that led the U.S. government to implement a bank bailout program.
Reporting by Sarah N. Lynch in WashingtonEditing by Mary Milliken and Matthew Lewis
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Police are searching for a male suspect after a man was “slashed in neck” on Sunday morning in downtown Toronto and died.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
English, history, entertainment, math and geography: high school trivia teams could be quizzed on any of it when they compete at the Reach for the Top Nationals in Ottawa in June.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
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The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.