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Goldman Pencils In First Fed Rate Cut for Second Quarter of 2024
Goldman Sachs Group Inc. economists anticipate the Federal Reserve will start lowering interest rates by the end of next June, with a gradual, quarterly pace of reductions from that point. “The cuts in our forecast are driven by this desire to normalize the funds rate from a restrictive level once inflation is closer to target,” Goldman economists including Jan Hatzius and David Mericle wrote in a note dated Sunday. For now, the Goldman team is penciling in rate cuts to begin in the second quarter of 2024. The rate-setting Federal Open Market Committee is expected to skip a hike next month, and conclude at the ... (full story)