Goldman Sachs CEO David Solomon said Wednesday he does not expect the Federal Reserve to cut interest rates this year. “I’m still at zero cuts,” Solomon said at a Boston College event. “I think we’re set up for stickier inflation.

Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he currently expects that the Federal Reserve won’t cut interest rates this year, amid an economy that’s proved more resilient thanks to government spending.

While market sentiment had been leaning towards at least one rate cut by the Fed in response to economic conditions, Solomon expressed skepticism about such a move. He underscored the potential for “stickier inflation,

At an event in Boston on Wednesday, Goldman Sachs CEO David Solomon discussed the state of the economy, including his prediction for rate cuts, as well as why he pulled workers back into the office five days a week.

Goldman Sachs CEO David Solomon said on Wednesday he does not expect the Federal Reserve to cut interest rates this year. "I'm still at zero cuts," Solomon said at a Boston College event. "I think we're set up for stickier inflation.

Interest rates will be cut in August, according to major investment banks, even after inflation came in higher than expected last month.