June 24, 2020 / 6:13 PM / 10 days ago

Goldman Sachs CEO says economic recovery will be rapid at first then challenged

FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Goldman Sachs Group Inc’s (GS.N) Chief Executive David Solomon said on Wednesday that he expects the U.S. economic recovery to look V-shaped at first, but for that rapid growth to flatten out and become more challenged in the next 6 to 12 months.

Speaking at a Bloomberg conference, Solomon said roughly 5% of the bank’s staff have returned to work at its New York headquarters and 10-12% of staff are back at the office in London.

Reporting By Elizabeth Dilts Marshall

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