Wall Street Chiefs Doubt Fed's 'Soft Landing' as Recession Risks Loom

Goldman Sachs CEO David Solomon doubts the Fed can achieve a "soft landing" in tamping down inflation, citing ongoing high inflation and economic uncertainty.

Solomon scoffs at predictions of 7 interest rate cuts this year, saying the market is now pricing in as few as 3 cuts, starting in May/June.

Solomon notes the upper economy remains strong but lower tier consumer spending has slowed.

JPMorgan's Jamie Dimon sees over 50% chance of a recession and believes the market is too confident in a soft landing.

Most Fed policymakers at last meeting saw risks in cutting rates too soon before inflation is clearly subsiding.