Finance
Goldman CEO Solomon Says Fed Will Forgo Emergency Cut Despite Weak Jobs Data
- Goldman CEO says one or two rate cuts in the autumn are likely
- Stock market correction ‘might be healthy,’ Solomon says
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Goldman Sachs Group Inc. Chief Executive Officer David Solomon predicted the Federal Reserve will avoid taking emergency steps to lower borrowing costs as he sees the US economy skirting a recession.
“I don’t expect that you’ll see anything before September,” Solomon said in an interview for an upcoming episode of The David Rubenstein Show: Peer to Peer Conversations. “The economy will chug along and we probably won’t see a recession.”