Goldman Sachs postpones expectations for the next Fed rate cut to December.

Goldman Sachs economists stated, "In our new economic baseline scenario, the reason for cutting interest rates has shifted from 'providing insurance' to 'normalization', as economic growth remains relatively robust, the increase in unemployment rate has slightly slowed down, and the urgency of policy support has decreased." Goldman Sachs economists, including Jan Hatzius, stated in a report on Monday, "We expect the Fed to start cutting rates three times later than our previous expectations, and to cut rates at alternate meetings rather than consecutively." Goldman Sachs economists said, "We have raised our economic growth forecast for 2025 by 0.5 percentage points to 1%, and lowered the likelihood of the economy falling into recession within 12 months to 35%."