FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange in New York CityBOSTON - Goldman Sachs CEO David Solomon said on Wednesday he does not expect the Federal Reserve to cut interest rates this year.
Solomon's comments stand in contrast to market expectations for at least one rate cut by the Fed this year. Traders reduced bets on Wednesday for more than one rate cut this year, after the release of minutes of the Federal Reserve's April 30-May 1 policy meeting showed rate-setters thought inflation could take longer to ease than previously thought.Solomon told an audience of about 150 senior corporate executives and Boston College students that while he believes the U.S.
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