Top executives at major U.S. banks are continuing to warn about the possibility of an economic slowdown in the United States. Following Jamie Dimon, CEO of JPMorgan Chase, David Solomon, CEO of Goldman Sachs, also expressed concerns about the economy on September 10 (local time).
In an interview with U.S. financial media outlet CNBC, Solomon said, "There is no doubt that some employment indicators suggest an economic slowdown," adding, "It is necessary to monitor this area very closely."
On the same day, the U.S. Bureau of Labor Statistics announced that the Producer Price Index (PPI) for August had fallen by 0.1% compared to the previous month. This figure is significantly lower than the 0.3% increase forecasted by experts. However, Solomon pointed out that despite these results, there are still persistent signs of high inflation.
He stated, "Trade policies are still under negotiation and in the process of being implemented," and added, "There is uncertainty about what all of this will lead to, and there is no doubt that this is affecting growth."
The previous day, 'Wall Street Emperor' Jamie Dimon, CEO of JPMorgan Chase, said that the preliminary annual benchmark revision of nonfarm employment confirmed that the U.S. economy is slowing down.
However, former President Trump, on his social networking service Truth Social, used the employment data revision as an opportunity to call for a rate cut and criticized the Federal Reserve. He argued, "Incompetence is more important than maintaining theoretical independence."
In response, Solomon emphasized, "It is important to recognize how much the independence of the central bank has benefited all of us."
Earlier, on September 8, at a financial event, Solomon stated that the Fed does not need to rush to cut rates, saying, "Given (the market's) risk appetite, the current policy rate does not feel particularly restrictive."
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