Goldman Sachs Group, Inc. (NYSE:GS) CEO David Solomon believes the market is being overly-optimistic about potential rate cuts in 2024. Solomon shared his more conservative Federal Reserve rate outlook Wednesday at the World Economic Forum in Davos, Switzerland.
What Happened: The market is currently anticipating seven rate cuts this year, but Wednesday on CNBC's "Squawk Box,” Solomon reminded investors that Fed Chair Jerome Powell has said the central bank will make future rate decisions based on current inflation trends and other economic data.
"It's hard for me to see the market's view of seven cuts, you know, this year,” ...