David Solomon, CEO of US banking giant Goldman Sachs, announced his current forecasts just one day before the FED announces its July decision.
Just 2 months ago, Solomon, who predicted that the FED would not cut interest rates in 2024, updated his predictions.
Speaking to CNBC, Goldman Sachs CEO said that the FED is likely to make one or two interest rate cuts in 2024.
The famous CEO, who thinks that the FED will start reducing interest rates in the autumn months, stated that he does not expect the FED to reduce interest rates at tomorrow's meeting.
“Looking at the data now and the way things are going, I think it looks more likely that there will be one or two rate cuts in the autumn.
“I do not expect a decision to reduce interest rates at tomorrow's meeting.”
Speaking about Bitcoin, Goldman Sachs CEO said that Bitcoin may have potential and usage as a store of value.
Solomon said Bitcoin could serve as a store of value similar to gold.
What is the FED Expectation?
Tomorrow, the FED will announce its July interest rate decision. Unless the FED makes a surprise decision, the expectation is to keep interest rates constant.
At this point, the FED is expected to make its first interest rate cut in September.
*This is not investment advice.
