Reported 5 months ago
Goldman Sachs CEO David Solomon stated that he does not anticipate the Federal Reserve to cut interest rates in the current year, emphasizing the possibility of stickier inflation. His remarks deviate from market anticipations, with traders reducing bets on multiple rate cuts after Fed minutes suggested a longer timeframe for inflation to ease. Solomon highlighted variations in how inflation affects different Americans and predicted rate cuts in Europe due to economic challenges. He also emphasized the need for a comprehensive approach to industrial policy and expressed concerns about global growth impediments including geopolitics.
Source: YAHOO