Goldman Sachs CEO says U.S. economy ‘more resilient’ than expected

(Reuters) -Goldman Sachs Chief Executive David Solomon told CNBC on Monday that the U.S. economy has been more resilient than feared, even though inflation was proving somewhat stickier.

Solomon said he expected a pick-up in recent “anemic” capital markets activity, adding this had not been unusual after 2022’s adjustment of valuations and capital costs.

“I would expect capital markets activity to pick up as we head into 2024,” Solomon told CNBC in an interview.

“At the end of the day people need capital. They can defer some of these activities, but at the end of the day they can’t postpone them indefinitely.”

Despite a rebound in fundraising and block trade activity, IPO volumes in the first quarter were their lowest since 2019.