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Goldman Sachs CEO woes: Why it may not be as dire as people think

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Goldman Sachs CEO David Solomon has been facing heavy criticism due to partner unrest, a slowdown in investment banking, and a pivot away from consumer banking. Yahoo Finance Reporter David Hollerith explains that the 154-year-old bank has gone through similar times of turmoil in the past, such as a near bankruptcy in 1929, the passing away of its top boss in 1976, and a record amount of trading losses in 1994. Hollerith says that despite current criticism, history has shown Goldman Sachs (GS) to be resilient, saying 'that might mean that the current situation is not as dire as some might think.'

due to partner unrest, a slowdown in investment banking, and a pivot away from consumer banking. Yahoo Finance Reporter David Hollerith explains that the 154-year-old bank has gone through similar times of turmoil in the past, such as a near bankruptcy in 1929, the passing away of its top boss in 1976, and a record amount of trading losses in 1994.

Research Chief Investment Strategist Sam Stovall joins Yahoo Finance Live to discuss market outlooks for the remainder of 2023. "With the uncertainty leading up to the September 20 FOMC meeting, that could offer enough concern, uncertainty that would allow the markets to tread water," Stovall says, forecasting this week's PCE data to be a "negative surprise" for year-over-year headline and core inflation prints.

 

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