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Investment bank forecasts a series of reductions in 2024.
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Predicts a more tempered pace than markets currently pricing.
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Global inflation showing signs of softening momentum.
Wall Street heavyweight Goldman Sachs anticipates the Federal Reserve embarking on an easing cycle as soon as this March in response to slowing economic growth. Its economists predict five quarter-point interest rate cuts throughout 2024 – tempering market expectations for more aggressive stimulus.
Moderate Inflation Comedown Provides Opening
The shift in Goldman’s policy rate forecast comes as global inflation displays early evidence of peaking after a blistering 2022 sent prices skyrocketing fastest in over 40 years.
While still uncomfortably high, the downward slope gives central bankers leeway to pivot after a year of historically oversized rate hikes aimed at deliberately inducing recession just to break inflation.
Goldman chief economist Jan Hatzius po
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