Goldman Sachs CEO says Fed unlikely to cut rates this year
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Goldman Sachs CEO David Solomon stated that he does not expect the Federal Reserve to cut interest rates this year. He believes that the U.S. economy is fundamentally strong, but not all Americans are experiencing growth or the impact of inflation in the same way. Solomon also expects interest rate cuts in Europe due to a sluggish economy. He expressed concern about various headwinds to global growth, including inflationary pressures and geopolitical concerns. Solomon called for a broader approach to industrial policy in the United States, particularly in terms of generating power and supporting electric vehicles and AI technologies. Traders have reduced bets on more than one rate cut this year after the release of minutes from the Federal Reserve's April 30-May 1 policy meeting.

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https://www.investing.com/news/economy/goldman-sachs-ceo-says-fed-unlikely-to-cut-rates-this-year-3452617