3/21, 8:55 PM (Source: TeleTrader)
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Goldman COO: Volatility could remain high short-term

The Goldman Sachs Group Inc. President and Chief Executive Officer (COO) John Waldron predicted on Tuesday that the market volatility caused by the crisis in the banking sector will remain high in the short-term at least.

Speaking to Handelsblatt in an interview published on Tuesday, Waldron urged the sector to introduce stricter regulation and capital requirements for regional and smaller banks. He also underscored the lack of customer confidence in the safety of their deposits as the "primary issue" at the moment.

Earlier this month, it was reported Goldman Sachs estimated the United States Federal Reserve will not raise the key interest rate at the March meeting to address the crisis in the banking sector.

Baha Breaking News (BBN) / JR