Goldman Sachs CEO sees inflation getting higher

Goldman Sachs Chief Executive David Solomon, in an interview with CNBC, said that he sees inflation getting higher for a period but doesn’t expect a repeat of the cost rises seen in the 1970s.

“There’s a reasonable chance that we’re going to have inflation above trend for a period of time but that doesn’t mean it has to be like the 1970s,” Reuters quotes Solomon.

The International Monetary Fund last week warned of intensifying inflationary pressures, especially in the United States, and said U.S. central bankers should focus more on inflation risks.