Economy

Stocksak suggests that Fed could raise beyond the 4.5-4.75% mark if there are no’real changes to behaviour’


© Stocksak. FILE PHOTO – David Solomon, Chairman & CEO of Goldman Sachs, speaks during the 2022 Milken Institute Global Conference in Beverly Hills, California (USA), May 2, 2022. REUTERS/Mike Blake

RIYADH (Stocksak), – Goldman Sachs, (NYSE:) CEO David Solomon stated Tuesday that the U.S. Federal Reserve indicated that economic conditions would “tighten meaningfully” and that rates could be increased beyond 4.5-4.75% if there are no real changes in behavior.

“So I too am in the camp that we likely – likely have a recession in the U.S., going to have I think, most likely, a recession – we might be in a recession in Europe,” he said, speaking at Saudi Arabia’s flagship investment conference FII.

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