Goldman’s CEO Says He’s Optimistic About 2024 as Markets Rebound

“We took swift, decisive action to refocus the firm’s strategy while at the same time strengthening our core businesses, and I’m proud of the progress we made,” Solomon said. “We put the firm in a stronger position for 2024 and beyond.”

He reiterated comments about the U.S. economy proving more resilient than expected, though he said inflation is likely to be stickier than markets anticipate.

Solomon said that CEOs tell him that economic conditions for the consumers at lower-income levels are getting tougher, leading to changes in spending patterns.

“But the Fed now has room to ease if economic conditions start to decline,” he said.

Goldman has raised more than $250 billion in alternatives since 2019, surpassing a $225 billion target a year early, he said.

(Credit: Bloomberg)

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