Goldman Sachs CEO David Solomon warned that inflation is likely “deeply entrenched” in the global economy and it’s not clear whether it will improve this year.
“We see inflation deeply entrenched in the economy, and what’s unusual about this particular period is that both demand and supply are being affected by exogenous events, namely the pandemic and the war on Ukraine,” Solomon told analysts on call Monday, according to several news outlets.
Transitory inflation refers to higher prices that will be short-lived and will not lead to lasting economic damage. Entrenched inflation means it will linger around for longer and will become harder to reverse….