Goldman Sachs CEO Sees Fed Hiking Rates ‘Meaningfully From Here,’ Says Recession ‘Likely’

Started by Epoch-Times-Bot, Oct 25, 2022, 11:28 AM

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Epoch-Times-Bot

Oct 25, 2022, 11:28 AM
Goldman Sachs CEO Sees Fed Hiking Rates 'Meaningfully From Here,' Says Recession 'Likely'

Goldman Sachs CEO David Solomon said on Tuesday he thinks that, amid persistently high inflation, the Federal Reserve will hike rates beyond the range of 4.5–4.75 percent if the central bank doesn’t see any “real changes in behavior.”
Solomon made the remarks at Saudi Arabia's flagship investment conference in Riyadh, on Oct. 25, alongside other top Wall Street bankers who discussed issues of concern to investors, including soaring inflation and geopolitical risks.
Inflation, which has been running near multi-decade highs in the United States and elsewhere, has prompted central banks to embark on aggressive tightening cycles to cool demand and take the sting out of price pressures....

Source: Goldman Sachs CEO Sees Fed Hiking Rates 'Meaningfully From Here,' Says Recession 'Likely'

xenzol

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Aug 09, 2024, 01:31 AM
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