Jun 01, 2023 / 05:30PM GMT
John McDonald -
Okay. Thanks, everyone. Good afternoon. We're happy to kick off the afternoon session here with PNC Financial. We've got CEO, Bill Demchak, joining us. Bill, thanks for being here today.
William S. Demchak - The PNC Financial Services Group, Inc. - Chairman, President & CEO
Great to be here.
Questions and Answers:
John McDonald -As usual in these bank sessions, I think we'll start off asking you about the broad state of the economy. You got the Fed maybe continuing to tighten, inflation is still running high, yet unemployment's low, a lot of uncertainty out there. So what's your take on the macro, both what we're seeing now and your outlook for the rest of the year?
William S. Demchak - The PNC Financial Services Group, Inc. - Chairman, President & CEO
I don't know that we have a terribly different view than consensus. We expect a shallow recession. I'm still waiting for somebody to define for me what exactly that means. But we're assuming, fourth quarter,
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