Goldman Sachs CEO David Solomon said Friday in his annual letter to shareholders that inflation may prove to be 'stickier' than previously anticipated.
Goldman Sachs CEO David Solomon warned Friday that inflation may prove more difficult to conquer than previously expected after back-to-back reports showed that price pressures within the U.S. economy rebounded at the start of the year. In his annual letter to shareholders, Solomon said he is optimistic about this year as his firm stands to benefit from a rebound in capital-markets activity, even though prices could remain abnormally high for some time.
WHY ARE GROCERIES STILL SO EXPENSIVE? High inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily affected by price fluctuations.
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