Goldman Sachs CEO David Solomon said that the greed of global financial markets has trumped fear, and based on his career experience, such a period will not last long.
Solomon said in an interview at the Bloomberg New Economic Forum held in Singapore on Wednesday: “When I look back on my career in the past 40 years, I found that there were times when financial market greed far exceeded fear. We are now at this stage. “
Solomon continued that in his experience, this period will not last for long, and some things will rebalance the situation and bring more perspectives.
Driven by large-scale stimulus from various countries, global stock markets have soared during the epidemic, while also stimulating the profits of Wall Street investment banks. However, as the economic recovery continues to unfold, people are increasingly worried that increasing inflation may suppress the strength of economic recovery, and central banks of various countries may also be forced to raise interest rates in response.
Solomon said that interest rates may rise, and the rise in interest rates itself will weaken the prosperity of some markets.
