Goldman Sachs CEO Predicts No Rate Cuts By The Fed This Year

According to Odaily, David Solomon, the Chief Executive Officer of Goldman Sachs, has stated that he does not anticipate the Federal Reserve to cut rates this year. His prediction is based on the resilience shown by the economy, which he attributes to government spending. 'I still have not seen convincing data that we will cut rates,' Solomon stated at an event at Boston College, adding that he currently predicts 'zero' rate cuts. Investments in artificial intelligence infrastructure have also contributed to the economy's resilience in the face of monetary tightening by the Fed. Solomon also noted that compared to six months ago, there is a greater risk of the economy slowing down in a 'tangible' way. He mentioned the vulnerability of geopolitics and stated that people will have to endure this for a long time.