Goldman Sachs: Expects three consecutive interest rate cuts of 25 basis points starting in September

Odaily News In its report this week, Goldman Sachs detailed the agenda of the Jackson Hole Global Central Bank Annual Meeting. The most anticipated speech is Powell's speech. Federal Reserve Chairman Powell will deliver a keynote speech at 10:00 a.m. Eastern Time on August 23 (22:00 Friday Beijing Time). 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 over-priced a 50 basis point rate cut at the next meeting after the weaker-than-expected employment data in July. (Wall Street News)