Goldman Sachs CEO: Expects the Federal Reserve will not cut interest rates this year and is prepared to deal with more severe inflation

ChainCatcher news, Goldman Sachs CEO David Solomon said at an event at Boston College on Wednesday: "I still stand by the expectation of zero rate cuts this year. I believe we are ready to deal with more severe inflation."

The Goldman Sachs CEO also stated that he expects the European Central Bank to cut rates this year, as the eurozone is struggling with "a more sluggish economy."

It is reported that the minutes from the Federal Reserve's policy meeting on April 30 to May 1 showed that rate setters believe the time needed for inflation to ease may be longer than previously thought, after which traders reduced their bets on multiple rate cuts by the Fed this year.