Goldman CEO David Solomon on CNBC says:
- Environment is actually okay for bank activity
- there are places where it's exhilarating
- the economy is still in great shape
- The likely scenario is that the Fed navigates with a soft landing
- COnsumer is still healthy especially in the service sector.
- I found the CEO sect at consumer seminar is quite positive on the economy
- See 2 maybe 3 cuts into the fall
- My view has always been very data dependent.
- The consensus is in the soft landing camp
- There is a case to be made for 50 basis points based on softer labor market
- My expectation is for 25 basis point cut.
- We have made real progress on inflation
- There is a risk of slow growth on inflation but not his base case scenario.
- Going to see material improvement and investment banking activity. A bigger Improvement in capital markets activity and less improvement in M&A. Recovery has been a little slower in the recovery.
- I don't think unwinding the credit card business has proven to be messier then we thought, and going to see that there is a material improvement in investment banking activity.
- Nvidia's Jenson'optimism on the pace of innovation is quite optimistic and compelling.
- Nvidia is a super company, but don't call "balls and strikes" on the valuation of the company.
- The report on policy issues from Trump and Harris and projected its impact on growth impact. THe impact was only 0.2%.
