Slide 1:
Goldman Sachs expects 3 Fed rate cuts in 2025 and 2 more in 2026.
Slide 2:
That would drop rates to 3–3.25%, down from the mid-2025 4% range.
Slide 3:
Core inflation ticked up to 3.1%, with shelter costs rising 0.2% monthly.
Slide 4:
Markets see a 93% chance of a September cut, fueled by weak jobs and calls for bigger easing.
