Uncertainty has Goldman CEO David Solomon operating cautiously as central banks around the world tighten financial conditions to combat inflation, he said.
Goldman Sachs CEO David Solomon said Monday that inflation is deeply entrenched in the economy and it's unclear whether the situation will improve later this year.
"I expect there's going to be more volatility and there's going to be more uncertainty and in light of the current environment we will manage all our resources cautiously," Solomon said. The uncertainty has Solomon operating his New York-based bank cautiously, and the firm has opted to slow its rate of new hires and cut the professional fees it pays, according to management.CEO David Solomon said Monday that inflation is deeply entrenched in the economy and it's unclear whether the situation will improve later this year.
"We see inflation deeply entrenched in the economy, and what's unusual about this particular period is that both demand and supply are being affected by exogenous events, namely the pandemic and the war on Ukraine," Solomon told analysts during a call to discuss second-quarterSolomon, who leads one of Wall Street's top advisors to corporations, then laid out one of the central debates occurring in markets right now: It is known that inflation is atStay informed about local...
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