UPDATE 1-Goldman Sachs CEO says US economic outlook uncertain despite soft landing prospects

Goldman Sachs CEO David Solomon said the U.S. economy is likely to avoid a significant recession, but warned that inflation will likely be more persistent than market participants currently expect. The Federal Reserve has tamed inflation via interest rate increases, but it may need to take further action, he said. Fed funds futures traders largely show the Fed will keep rates on hold until May or June next year, when traders expect the central bank will start cutting rates.