PNC Financial Services Group Inc (LTS:0KEF)
$ 204.86 -0.94 (-0.46%) Market Cap: 81.14 Bil Enterprise Value: 108.07 Bil PE Ratio: 17.35 PB Ratio: 1.46 GF Score: 65/100

PNC Financial Services Group Inc at Sanford C Bernstein Strategic Decisions Conference Transcript

Jun 01, 2023 / 05:30PM GMT
Release Date Price: $119.18 (+2.77%)
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 & 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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