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“We took swift, decisive motion to refocus the agency’s technique whereas on the identical time strengthening our core companies, and I’m happy with the progress we made,” Solomon stated. “We put the agency in a stronger place for 2024 and past.”
He reiterated feedback in regards to the U.S. economic system proving extra resilient than anticipated, although he stated inflation is more likely to be stickier than markets anticipate.
Solomon stated that CEOs inform him that financial circumstances for the shoppers at lower-income ranges are getting harder, resulting in adjustments in spending patterns.
“However the Fed now has room to ease if financial circumstances begin to decline,” he stated.
Goldman has raised greater than $250 billion in alternate options since 2019, surpassing a $225 billion goal a 12 months early, he stated.
(Credit score: Bloomberg)
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