Goldman Sachs CEO expects Fed to avoid emergency rate cuts

Goldman Sachs CEO Solomon expects the Federal Reserve to avoid an emergency rate cut as he believes the U.S. economy will avoid a recession.

Solomon said in an interview that he does not expect to see any progress until September and that the economy will be steady and probably not in recession.

Solomon also said that based on the economic data he has seen so far and the message from the Fed, he thinks there could be one or two rate cuts this autumn.