Interest rate message from Goldman CEO
Goldman Sachs CEO David Solomon said the Fed is unlikely to cut interest rates this year.
Goldman Sachs CEO David Solomon said Wednesday that he does not expect the Fed to cut interest rates this year.
“I expect a ‘zero’ interest rate cut this year, I think we are ready for stickier inflation,” Solomon said at the Boston College event.
Solomon’s comments contradict market expectations that the Fed will cut rates at least once this year. Investors lowered their bets for multiple rate cuts this year on Wednesday after the release of minutes from the Fed’s April 30-May 1 policy meeting showed that rate setters think inflation may take longer to ease than previously thought.