11AM Hour: Exclusive Interviews with the CEOs of Goldman Sachs and Eli Lilly 8/31/26

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**Sara Eisen** (0:49)
Good Monday morning and welcome to Squawk on the Street. I'm Sara Eisen coming to you live today from the G20 meetings in Asheville, Carolina along with David Faber who's at Post 9 of the New York Stock Exchange. Carl Quintanilla has the morning off. This hour will be joined exclusively here in Asheville by the Chairman and CEO of Goldman Sachs in just a moment, David Solomon and then later the Chair and CEO of Eli Lilly, Dave Ricks.

**David Faber** (1:10)
An escalation for the war with Iran exchanging strikes for the first time since July. That has sent oil prices higher. Brent is above 90 bucks on renewed concerns over supply disruptions.
OpenAI touting this morning that it's not GPT advertising business posted $1 billion in annualized revenues. We're going to explain what that milestone means. Let's give you a quick look at the markets. S&P down almost one half of a percent. NASDAQ, a similar decline overall. Of course, the market reacting to some extent, of course, to those higher oil prices. Sara, back to you.

**Sara Eisen** (1:44)
Yeah, something that the Treasury Secretary continues to frame as temporary that we're going to get on the other side in a supply shock, and that core inflation looks good. But we're going to start here at G20 finance meeting in North Carolina with Goldman Sachs CEO. He's among the executives joining the finance ministers and central bankers for meetings on the global economy. Joining me now for Sandbic's exclusive is David Solomon.

**SPEAKER_4** (2:05)
Good to see you here in Asheville.

**David Solomon** (2:08)
It's good to be here.
I really appreciate the fact that Treasury has invited a group of people from industry down to participate. That really speaks to the desire to really have a public-private partnership with business to try to drive more economic growth. So I'm thrilled to be down here.

**SPEAKER_8** (2:24)
It's beautiful here and happy to be here.

**Sara Eisen** (2:27)
That is what the theme is, is growth. I maybe just wanted to start with your outlook for the US economy right now.

**David Solomon** (2:34)
My outlook for the US economy is pretty constructive. We're at a moment, Sara, where generally speaking, the consumer is still pretty resilient.
The economy is performing well. We have an enormous investment cycle that's obviously contributing to growth and activity. The thing I'd highlight that I know you've been focused on is the level of earnings growth has really been extraordinary. That's been a big tailwind for the market and for the economy.
I think things are set up pretty well and are quite constructive. Now, it's not a straight line. There are obviously bumps and headwinds from the situation in the Middle East. I think trade policy and tariffs is also a headwind to some degree. But we worked through all of that. The thing that I'm excited about is if I step back and take a longer lens and start thinking about the next five to 10 years. I think with AI being developed into the economy and the enterprise, and that won't be a straight line either, but the productivity opportunity, the productivity gains actually gives us a real opportunity to run at a higher growth rate as we move forward.

**Sara Eisen** (3:34)
You think that it'll all be worth it, all the investment?

**David Solomon** (3:37)
I can't say that every investment will be worth it because of course, there'll always be winners and losers, some good investments, some bad investments. But the direction of travel, as this gets adopted into the economy and gets adopted with enterprises and with individuals is a productivity boom that I think is going to be extraordinary. That gives us a chance if we manage it well for a fundamentally higher growth rate which is important for us as we move forward.

**Sara Eisen** (4:00)
Yeah. I was actually going to ask you about the bond market and how all these companies are now borrowing, and we're increasingly seeing this as a debt-fueled build out, if it presents a credit risk.