Goldman Sachs' CEO Solomon: Outlook for U.S. economy is pretty constructive

Watch on YouTube ↗  |  August 31, 2026 at 15:33  |  4:38  |  CNBC
Speakers
David Solomon — Chairman and CEO, Goldman Sachs

Summary

Goldman Sachs CEO David Solomon gives a constructive U.S. economic outlook, pointing to resilient consumers, strong earnings growth, and an AI-driven productivity opportunity. He says AI-related debt issuance is not a systemic credit risk now, though some areas may eventually recalibrate. He also views the rise in long-term Treasury term premium as a durable trend tied to fiscal policy, inflation, and growth.

  • Solomon sees the U.S. economy and consumer as resilient with extraordinary earnings growth supporting markets.
  • He expects AI adoption to drive a multiyear productivity boom and potentially higher growth, though not every AI investment will work.
  • He says AI-related debt issuance is mostly from large, cash-flow-strong companies and is not a systemic credit risk now.
  • He sees higher long-term Treasury term premium as a long-term trend driven by fiscal spending, embedded inflation, and growth.
  • He notes that Treasury and yen interventions send signals but markets tend to move to their own levels.
Ideas
David Solomon Chairman and CEO, Goldman Sachs 0:53
U.S. economy and market are constructive.
The U.S. economy is set up constructively: the consumer is still resilient, the economy is performing well, an enormous investment cycle is contributing to growth, and extraordinary earnings growth has been a big tailwind for the market and the economy. Middle East and trade/tariff issues are headwinds but can be worked through.
SPY HIGH
David Solomon Chairman and CEO, Goldman Sachs 1:32
AI adoption should drive productivity boom.
Over the next five to ten years, AI being developed into the economy and enterprise should produce a productivity boom and gives the U.S. a chance to run at a fundamentally higher growth rate, though the path won't be straight and not every AI investment will be a winner.
AI-related equities MED
David Solomon Chairman and CEO, Goldman Sachs 2:32
AI buildout credit risk not systemic.
The AI-related debt-funded buildout is something to monitor, but he does not see a lot of systemic credit risk now because issuance is coming from very large companies with fundamentally strong cash flow characteristics; some areas may eventually go too far and require recalibration.
U.S. corporate credit MED
David Solomon Chairman and CEO, Goldman Sachs 3:42
Higher term Treasury premium trend persists.
The move higher in long-term Treasury term premium is a long-term trend driven by fiscal spending policy, an economy with more embedded inflation, and higher growth, and it is hard to fight; a 5% term premium is not a calamity historically.
long-term U.S. Treasuries MED
Up Next
4:03
Treasury Secretary Bessent: We will get on the other side of the Iran conflict
CNBC · Aug 31
3:46
Century 21 Real Estate CEO: Housing is one of the most rate sensitive industries
CNBC · Aug 31
2:24:20
Bloomberg Surveillance 8/31/2026
Bloomberg Markets · Aug 31
20:48
Nvidia CEO Huang on the $3.5 Billion Deal With MediaTek
Bloomberg Markets · Aug 31
1:58
Market Open: Stocks Lower, Oil Prices Jump, OpenAI's ad business soars • 8/31/26
CNBC · Aug 31

This CNBC video, published August 31, 2026, features David Solomon discussing SPY, AI-related equities, U.S. corporate credit, long-term U.S. Treasuries. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: David Solomon  · Tickers: SPY, AI-related equities, U.S. corporate credit, long-term U.S. Treasuries