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.