Goldman Sachs: Still expects the Fed to cut interest rates in December, January and March
Federal Reserve Chairman Powell's speech last week hinted at a possible pause in interest rate cuts at the upcoming meeting. This news has left investors dissatisfied. However, some economists do not believe that Powell's remarks will have a negative impact on the market. Citigroup's chief US economist, Andrew Hollenhorst, said, "US bond yields rose due to Powell's remarks, but we believe this is more a reflection of Powell keeping all options open rather than intentionally sending a hawkish signal." Goldman Sachs' chief economist, Hazus, still expects "the Federal Reserve to cut interest rates continuously in December, January, and March, and then once per quarter in June and September. However, he believes that the FOMC may slow down the pace of interest rate cuts faster, which could happen as early as the December or January meeting." However, unless the November employment or inflation report unexpectedly strengthens, the likelihood of the FOMC skipping interest rate cuts in December is low.
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