Goldman Sachs CEO: Fed may raise interest rates above 4.5-‎‎4.75%‎

David Solomon, CEO of Goldman Sachs Bank, said today, Tuesday, that the Federal Reserve (the US central bank) indicated that economic conditions will witness a trend that tends to tighten monetary significantly in the next stage, and that the council may raise interest rates to more than 4.5-4.75 percent if it does not touch real developments.

He added on the sidelines of the Future Investment Initiative conference in Riyadh, “Therefore, I am of the opinion that he is saying that a recession is likely in the United States, and I think we are moving towards it, and that we may actually witness a recession in Europe.”

Today, at the King Abdulaziz Conference Center in Riyadh, the work of the sixth session of the Future Investment Initiative began, under the slogan “Investing in Humanity… Enabling a New World Order”, with the participation of 6000 participants from countries around the world, and 500 speakers from different sectors from inside and outside the Kingdom. It lasts for three days

During the work of the sixth edition of the Investment Initiative Conference, which was launched earlier today, a group of Nobel laureates, a number of company heads and major investors will participate in an attempt to find sustainable solutions to meet the basic needs of the world’s population, and the challenges it poses will be discussed. The new world system, as well as the opportunities that arise from it, such as the establishment of an economic system that improves the quality of life for citizens around the world, Crypto” and the future of Africa.