One Cut, Then Five, Then Two: Goldman’s Calls Roiled by CPI
- Echoes Wall Street’s broader difficulty predicting Fed’s path
- Goldman economists change call after third hot CPI report
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To see how hard it’s been for even Wall Street’s best and brightest to predict where the Federal Reserve is headed, look no further than Goldman Sachs Group Inc.
As recently as November, the bank’s team of economists led by Jan Hatzius was bucking the broader consensus by predicting that the Fed would cut its benchmark rate by just a quarter percentage point in 2024, given how strong the economy had been.