Goldman Sachs CEO Solomon predicts no Fed rate cut this year

Goldman Sachs Group Inc. Chief Executive David Solomon said he now doesn't expect the Federal Reserve to cut interest rates this year because the economy has shown greater resilience thanks to government spending. "I still don't see compelling data that we're going to cut rates," he said at a Boston College event, adding that he currently predicts "zero" rate cuts. Investments in artificial intelligence infrastructure are also making the economy more resilient in the face of monetary tightening by the Federal Reserve. Solomon also said there was a greater risk of a "real and tangible" slowdown in the economy than there was six months ago. He cited geopolitical fragility and said people are going to have to live with this for a long time.