“We took swift, decisive motion to refocus the agency’s technique whereas on the similar time strengthening our core companies, and I’m pleased with the progress we made,” Solomon mentioned. “We put the agency in a stronger place for 2024 and past.”

He reiterated feedback concerning the U.S. financial system proving extra resilient than anticipated, although he mentioned inflation is prone to be stickier than markets anticipate.

Solomon mentioned that CEOs inform him that financial situations for the shoppers at lower-income ranges are getting more durable, resulting in adjustments in spending patterns.

“However the Fed now has room to ease if financial situations begin to decline,” he mentioned.

Goldman has raised greater than $250 billion in alternate options since 2019, surpassing a $225 billion goal a yr early, he mentioned.

(Credit score: Bloomberg)

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