Goldman Sachs: Expects three consecutive 25 basis point rate cuts starting in September

BlockBeats news, on August 18, Goldman Sachs detailed the Jackson Hole Global Central Bank Annual Meeting agenda in its report this week. The most watched speech is Powell's. Federal Reserve Chairman Powell will deliver a keynote speech at 10:00 a.m. Eastern Time on August 23 (22:00 Beijing Time on Friday). The speech will be live but there will be no question-and-answer session afterwards.

Goldman Sachs pointed out that the market may receive signals of "confidence in rate cuts" and "data dependence". It is expected that Powell's information and off-site interviews will be similar to what has been heard in the past few weeks, that is, the Fed is now close to cutting interest rates, but the degree of easing will depend on the upcoming data. Goldman Sachs economists expect the Fed to cut interest rates by 25 basis points three times in a row starting in September, and believe that the market has overpriced a 50 basis point rate cut at the next meeting after the weaker-than-expected employment data in July. (Wall Street News)