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Goldman CEO Urges More Spending Amid Tussle Over New Relief Bill

  • Solomon says better to spend now than let crisis get worse
  • ‘No free lunch’ probably means slower growth, weaker dollar
David Solomon
David SolomonPhotographer: Kyle Grillot/Bloomberg

Goldman Sachs Group Inc. Chief Executive Officer David Solomon threw his weight behind more spending to help revive the economy as congressional leaders remain deadlocked on a new stimulus deal.

“Even though it’s hard and it’s expensive, we are better to blunt the economic impact now in the short term, by spending more, than to allow it to get worse and deal with the consequences of it being worse,” Solomon said Wednesday in an online presentation hosted by the Economic Club of New York.