Goldman Sachs CEO says having 'very tight' job market makes cooling inflation 'very hard'

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Goldman Sachs’ CEO, David Solomon, offered insights on the labor market and efforts to cool inflation in the U.S during a recent podcast episode put out by his company.

as part of its ongoing efforts to bring inflation closer to the 2% goal. Those have included a quarter-point lift at the beginning of the month and, previously, other larger increases.

"I do think when I think about rates, the trajectory of rates, higher/longer," Solomon stated earlier in the podcast. Solomon said the market "thinks a terminal rate is just over 5%" but offered a projection it was "going to be much higher than that." David Solomon, chief executive officer of Goldman Sachs & Co., speaks during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 17, 2021. The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloombergor a soft landing certainly feels more likely." The U.S., Solomon noted, is "still in a period of uncertainty."

 

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How about he take a pay cut?

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