Global markets have surged during the pandemic, fueled by massive stimulus that has also stoked profits at banks such as Goldman. Concern is now rising that accelerating inflation will pose a challenge to a sustained recovery as central banks may be forced to raise interest rates in response.
Goldman Sachs Group Inc CEO David Solomon said that markets could face a rocky time ahead as the global economy seeks to emerge from the abrupt impact of the pandemic.
“When I step back and think about my 40-year career, there have been periods of time when greed has far outpaced fear – we are in one of those periods,” Solomon said in an interview at the Bloomberg New Economy Forum in Singapore. “My experience says those periods aren’t long lived. Something will rebalance it and bring a little bit more perspective.”
