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Goldman Sachs expects the Federal Reserve to cut interest rates three times this year
BlockBeats News, August 18th: Goldman Sachs expects the Fed to cut interest rates three times this year, with expected cuts in September, October, and December, citing weak US job growth.
Analysts pointed out that job additions have slowed to about 30,000 per month, well below the approximately 80,000 needed for full employment, and future revisions to the data could be more negative. They believe that risks are not only from trade and immigration; "compensatory hiring" is fading, and growth in most industries is close to zero.
Goldman Sachs warned that despite the unemployment rate remaining stable, even a mild labor market slowdown is concerning. If the unemployment rate shows a more pronounced increase, it could trigger a larger 50 basis point rate cut.
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