Goldman Sachs CEO Warns High Inflation Could Persist, Causing Ongoing Financial Stress

• Inflation may be more persistent than anticipated, according to Goldman Sachs CEO David Solomon • Prices surged in 2021-2022 due to supply chain issues, tight labor market, and stimulus spending • Inflation remains high compared to the Fed's 2% target, causing financial strain for households • Progress on reducing inflation has stalled in recent months, raising concerns about stagflation • Goldman Sachs laid off 3,200 employees as part of a strategy to strengthen core businesses