Goldman Sachs CEO says inflation will stay higher than expected

CEO of Goldman Sachs David Solomon spoke with Reuters in an interview Wednesday in Davos:

• expects the U.S. economy to avoid a big slowdown in 2024
• warned that inflation could remain more stubborn than expected, negatively impact economic growth
• "I still think there's a risk, particularly around labor, food, gas, that inflation could be stickier than people expect."

The Federal Open Market Committee (FOMC) outlook from his analysts:

• Goldman Sachs project 25bp Federal Reserve March rate cut, followed by another 4 this year