Goldman Sachs CEO Talks AI, Economic Growth and Risks (Full Interview)

Goldman Sachs CEO David Solomon says he doesn't see a systemic crisis in the credit sector.

The bank boss told Bloomberg TV's Joumanna Bercetche he believes the US economy is in "quite good shape," though he cautioned that there remains a lot of uncertainty.

If the economy slows sharply, or if a major macro event shakes market confidence, losses would emerge across the system, he said. “But that’s different than a systemic crisis.”

Solomon reiterated his comments that the recent losses at regional banks tied to alleged fraud were “idiosyncratic events,” but said they serve as a reminder to stay vigilant about underwriting standards.

David Solomon was speaking at the Future Investment Initiative in Riyadh, where he also told Bloomberg that the Wall Street lender plans to triple its headcount in Saudi Arabia. Speaking exclusively to Bloomberg, Solomon also said inflation continues to pose a significant headwind for many US consumers.

The boss of one of Wall Street's biggest banks added that he sees artificial intelligence as an exciting driver of global growth in the coming years, predicting significant productivity gains over the next 36 months.


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