Contrary to the Trump administration! Goldman Sachs CEO: The Federal Reserve does not need to cut interest rates quickly
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Goldman Sachs CEO David Solomon stated that the Federal Reserve does not need to cut interest rates quickly, opposing the pressure from the Trump administration. He believes that the current policy rate is not suppressing the market and that investor sentiment is overly exuberant. The market generally expects the Federal Reserve to cut rates by 25 basis points, but Solomon and Cleveland Fed President Loretta Mester both believe that current inflation is above target, providing insufficient reasons for a rate cut. Solomon also mentioned the negative impact of trade policy on economic growth
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