ICYMI – Goldman Sachs CEO Solomon says Fed unlikely to cut rates this year

Greg had the news posted on the big call from Goldman Sachs:

  • Goldman Sachs CEO David Solomon: See zero Fed cuts in 2024
  • “I’m still at zero cuts,”
  • “I think we’re set up for stickier inflation.”
  • “Inflation is not just nominal, it’s cumulative”
  • says the US economy is fundamentally quite strong
  • “We’re starting to see the average American slowing down and changing his habits,”

On the European Central Bank, he says he expects them to cut, due to “a more sluggish economy”

And, globally:

  • “The geopolitical fragility is something we’re going to have to live with for a time”

I’ve been expecting a Federal Reserve cut in September, what with the election approaching. My level of confidence on that call is falling away though … plummeting in fact.

Putting these away for now.

This article was written by Eamonn Sheridan at www.forexlive.com. Source