The outlook for the U.S. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they're preparing for a potential downturn or a recession.
Following the short but potent pandemic recession in 2020, many bank CEOs have spent the past year and a half trumpeting the strength of the U.S. economy and the resilience of the U.S. consumer. Many did so again Friday after reporting their quarterly results, but this time with an overriding sense of caution.
