Goldman Pencils In First Fed Rate Cut for Second Quarter of 2024
- Wall Street bank expects no more hikes to come this year
- Goldman economists anticipate 25 basis-point cuts per quarter
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.