According to Goldman Sachs economists, the Federal Reserve is expected to begin cutting interest rates before the end of June 2024 and gradually lower rates on a quarterly basis from then on. Goldman Sachs economists, including Jan Hatzius and David Mericle, wrote in a report last Sunday, "We have lowered our expectations because once inflation approaches its target, we want to normalize fund rates from restrictive levels.

Normalizing rates is not a particularly urgent motive for cutting interest rates, so we also believe that the Federal Open Market Committee will maintain a stable risk. We expect a 25 basis point rate cut every quarter, but the speed of the rate cut is still uncertain. We expect the fund rate to eventually stabilize at 3-3.25%." Last week, data showed that the overall growth rate of the US inflation rate rose below expectations at 3.2%, and the annual growth rate of the core consumer price index (excluding energy and food costs) was 4.7%.