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Goldman Sachs CEO: Fed Unlikely to Cut Rates Before September Bitcoin.com 08 Aug 2024

Goldman Sachs CEO: Fed Unlikely to Cut Rates Before September 📉

Goldman Sachs CEO David Solomon predicts that the Federal Reserve is unlikely to cut interest rates before September. This expectation comes even in the face of weak job data, as he believes the U.S. economy will steer clear of a recession. Speaking on 'The David Rubenstein Show,' Solomon pointed out that although investors had hoped for earlier rate cuts due to global market conditions, the Fed will likely hold off. Solomon's comments indicate confidence in the resilience of the U.S. economy, expecting it to withstand current economic pressures without immediate rate adjustments. The stance contrasts with some market expectations for earlier cuts, emphasizing a measured approach by the Federal Reserve in managing economic stability.

Source: news.bitcoin.com ↗

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