Goldman Sachs Group (NYSE:GS) CEO David Solomon expects the IPO market to recover in the coming months.

“I think we’re going through a period of price repricing right now,” he told CNBC host Jim Cramer. “We’re going to see a slight recovery in capital markets over the coming months as investors adjust to this repricing.”

The US IPO market has practically come to a standstill this year due to high inflation, Fed rate hikes and geopolitical events. In the first half of the year, IPO volume on US exchanges was only $4.8 billion, compared to $155 billion in 2021, according to EY and Dealogic.

The negative factors have not gone away, but investors are gradually getting used to the new reality, Solomon noted.

“There are always a number of companies that need to go public,” he said. “History will tell when that adjustment takes place.”