David Solomon, chief executive of Goldman Sachs, said the market could face a tough period as it tries to shake off the sudden impact of the pandemic.
"Looking back on my 40-year career, I find that there were periods when greed far outweighed fear — a period in which we are now," Solomon said in an interview at the Bloomberg Innovation Economy Forum in Singapore. "From my experience, these periods are not very long. The situation will be rebalanced. ”
Global markets have soared during the pandemic, fueled by massive stimulus measures, which have also boosted profits at banks such as Goldman Sachs. There is now growing concern that accelerating inflation could force central banks to raise interest rates, thereby challenging the continued recovery.
"Interest rates have the potential to go up, and if they do, they themselves take away the boom in certain markets," Solomon said.
This article originated from the Financial Circle Network
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