RIYADH (Reuters) – Goldman Sachs 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.
(Reporting by Hadeel Al Sayegh in Riyadh and Yousef Saba in Dubai, Editing by Louise Heavens)