Goldman Sachs economist: Fed's rate hike this time may be the last one of the current cycle.

BlockBeats news on July 21st: US Treasury yields dropped despite the lack of data weakening the market's expectation of a 25 basis point rate hike by the Federal Reserve next week. Goldman Sachs economist David Mericle said that this rate hike may be the last of the cycle. The possibility of an economic recession in the US is lower than market expectations, and it is expected that interest rate cuts will not begin until the second quarter of 2024, with a quarterly reduction of 25 basis points, and the final interest rate will be in the range of 3-3.25%, higher than the long-term forecast of 2.5% on the FOMC dot plot. (Jin10)