Goldman Sachs CEO Solomon expects no Fed rate cuts this year

Goldman Sachs Group CEO David Solomon said he currently doesn't expect the Federal Reserve to cut interest rates this year because the economy has shown more resilience thanks to government spending. "I still don't see compelling data that suggests we're going to cut rates," he said at an event at Boston College, adding that he currently predicts "zero" rate cuts. Investments in artificial intelligence infrastructure are also pushing the economy to be more resilient in the face of the Fed's monetary tightening. Solomon also said there was a greater risk of the economy slowing down in a somewhat "real and palpable" way than six months ago. He mentioned geopolitical fragility and said that people will have to live with that for a long time.