TechFlow news — Goldman Sachs CEO David Solomon said Wednesday at an event at Boston College: "I still hold my expectation of zero rate cuts this year. I believe we are prepared to handle more persistent inflation." He noted he expects the European Central Bank to cut rates this year, as the eurozone struggles with "a more subdued economy."
Solomon expressed concern over a range of headwinds facing global economic growth, including inflationary pressures and geopolitical issues. "For some time, we will have to endure geopolitical fragility," he said.
On Wednesday, minutes from the Federal Reserve's policy meeting on April 30 to May 1 showed that policymakers believe it may take longer than previously expected for inflation to ease, prompting traders to scale back bets on multiple Fed rate cuts this year.
