HONG KONG (Reuters) – Greed is outpacing fear in world financial markets as investors respond to the pandemic recovery, Goldman Sachs Chief Executive David Solomon says, adding that such periods of exuberance are usually not long-lived.
Solomon told Bloomberg’s New Economy Forum in Singapore on Wednesday the global economy was facing a ‘complicated time’ as activity began to strengthen after the sudden shutdown in many parts of the world in 2020 because of coronavirus.
The unprecedented levels of stimulus ordered by governments and central banks, he said, had led to exuberance in certain markets.
Federal Reserve Chairman Jerome Powell’s inflation dashboard is starting to show some signs of overheating.
From spreading price increases to rising wages, it’s signaling more caution on the inflation front than when Powell unveiled the benchmarks less than three months ago.
In a speech to the Fed’s annual Jackson Hole conference, held virtually in late August, Powell sketched out five ways of assessing the outlook for inflation and argued that each of them suggested there was no cause for alarm.
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