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Goldman’s CEO Solomon Says He Sees ‘Zero’ Rate Cuts This Year
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 say we’re going to cut rates here,” he said from an event at 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. Solomon also said the risk of some kind of slowdown that’s “real and palpable” ... (full story)