NEW YORK (Reuters) -Goldman Sachs ( GS ) CEO David Solomon told Fox Business on Wednesday he expects initial public offerings (IPOs) to increase this year.

"IPOs have been muted over the last couple of years, the pipeline is larger and we expect an increase this year," he said in an interview with FOX Business' Mornings with Maria.

Solomon said the level of uncertainty is a little bit higher at this moment which has kept some transactions on the sidelines, but added that could change if there is more regulatory clarity.

"There is potential, especially if we got more specific actions on the regulatory front, to unleash more animal spirits," he said.

Investment banking activity has picked up in recent months, with Wall Street executives welcoming President Trump's business-friendly tone.

But U.S. mergers and acquisition activity in the first two months of 2025 has seen just 1,603 deals signed through Friday, making it the slowest pace by volume since 2009, Dealogic data showed.

On Tuesday, Trump defended his use of tariffs and said they could multiply as he met with the CEOs of America's biggest companies, many of whom have watched their market value crater over recession and inflation fears.

Solomon, who attended the meeting, said CEOs were looking for policy certainty from the administration.

"The more we can have certainty on the policy agenda as we move forward, the better that's going to support capital investment and growth," he said.