Goldman Sachs Delays Fed Rate Cut Expectations to December 2026 and March 2027
On May 9, Goldman Sachs announced that due to stronger-than-expected inflation resilience, the bank has postponed its expectations for the Federal Reserve's next two rate cuts by a quarter, now forecasting them for December 2026 and March 2027. In a report on May 8, Goldman Sachs' U.S. economists stated that the transmission effects of energy costs could keep the core Personal Consumption Expenditures (PCE) inflation rate around 3% for the year, rather than the Fed's target of 2%, thereby delaying the conditions necessary for policy easing.
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