According to Wall Street Journal reporter Nick Timiraos: Goldman Sachs has revised its forecast for Federal Reserve interest rate cuts, suggesting that the first cut could be expected in September followed by another in December. This prediction aligns with the majority of sell-side bank forecasters and other Federal Reserve sources. This change in stance contrasts with an earlier statement from Goldman Sachs Group CEO David Solomon, who said he didn't expect any Fed rate cuts this year. Solomon expressed his belief that the U.S. was facing a situation of more entrenched inflation.
