Salem Radio Network News Saturday, January 29, 2022

Business

Goldman Sachs CEO expects higher inflation

NEW YORK (Reuters) – Goldman Sachs Chief Executive David Solomon anticipates inflation will be higher for a period but doesn’t expect a repeat of the cost rises seen in the 1970s, he said in an interview with CNBC.

“There’s a reasonable chance that we’re going to have inflation above trend for a period of time but that doesn’t mean it has to be like the 1970s,” he said. “You’ve got to be cautious and manage your risk appropriately.”

(Reporting by Matt Scuffham, Editing by Louise Heavens)

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