Goldman’s Solomon Says He Sees ‘Zero’ Rate Cuts This Year
- CEO says he doesn’t see compelling data to support rate cuts
- Average Americans are feeling pinch from inflation: Solomon
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Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he currently expects that the Federal Reserve won’t cut interest rates this year, amid an economy that’s proved more resilient thanks to government spending.
“I still don’t see the data that’s compelling to see we’re going to cut rates here,” he said from an event hosted by Boston College, adding that he’s currently predicting “zero” cuts. Investments in AI infrastructure have also helped the economy be more resilient to the Fed’s monetary tightening, he said.