Goldman Sachs CEO Solomon predicts no Fed rate cut this year
Goldman Sachs CEO David Solomon said that he currently expects the Federal Reserve to not cut interest rates this year, as the economy has shown greater resilience thanks to government spending. "I still haven't seen convincing data that suggests we will cut interest rates," he said at an event at Boston College, adding that he currently predicts zero rate cuts. Investment in artificial intelligence infrastructure has also helped the economy become more resilient in the face of monetary tightening by the Federal Reserve. Solomon also said that the risk of the economy slowing down to some degree is now "more palpable" compared to six months ago. He mentioned the vulnerability of geopolitics and said that people will have to endure it for a long time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Daily: Binance launches pre-market spot trading, Caroline Ellison gets sentenced to two years in prison, Hamster Kombat teases roadmap and more
Binance has launched a pre-market spot trading service that uses “actual tokens.”Former Alameda CEO Caroline Ellison was sentenced to two years in prison for her role in the collapse of FTX.Hamster Kombat teased token buybacks, NFTs and the launch of a web app ahead of its highly-anticipated airdrop.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Australia Cracks Down on Crypto: New Regulations Aim to Shield Investors
Friday's end-of-month bitcoin options expiry could trigger significant market volatility: Deribit
Friday’s end-of-month bitcoin options expiry could significantly impact market volatility, according to Deribit CEO Luuk Strijers.Major cryptocurrencies, such as bitcoin and ether, have traded flat over the past 24 hours.
Telegram Wallet temporarily blocked for UK users due to restructuring