© Reuters. FILE PHOTO: David Solomon, Chairman and CEO of Goldman Sachs, speaks at the 2022 Milken Institute Global Conference, in Beverly Hills, California, U.S., May 2, 2022. REUTERS/Mike Blake
RIYADH (Reuters) – Goldman Sachs (NYSE:) CEO David Solomon said on Tuesday the U.S. Federal Reserve said economic conditions will “tighten meaningfully from here” and the U.S. Federal Reserve could hike rates beyond 4.5-4.75% if it does not see real changes in behaviour.
“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.