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Story summary
- Goldman Sachs co-head Ashok Varadhan advised investors to stay invested and said he does not expect the Federal Reserve to raise rates this year, seeing a 50% chance of a September hike.
- He forecast West Texas Intermediate crude will fall below $70 a barrel by 2026 and argued AI-driven productivity gains will become a disinflationary force.
- He said a resilient economy should limit credit-spread widening and keep defaults low.
