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

ChainCatcher news, according to a report by Wall Street Watch, Goldman Sachs detailed the agenda for the Jackson Hole Global Central Bank Annual Conference in this week's report, with the most anticipated event being the speech by Powell. Federal Reserve Chairman Powell will deliver a keynote speech at 10:00 AM Eastern Time on August 23 (10:00 PM Beijing Time on Friday). The speech will be live-streamed, but there will be no Q&A session afterward.

Goldman Sachs pointed out that the market may receive signals of "rate cut confidence" and "data dependence." It is expected that Powell's message and off-the-record interviews will be similar to what has been heard in recent weeks, namely that the Federal Reserve is now close to a rate cut, but the extent of easing will depend on upcoming data. Goldman Sachs economists expect the Federal Reserve to cut rates by 25 basis points three times starting in September, and they believe the market is pricing in a 50 basis point cut at the next meeting too aggressively after the July employment data came in weaker than expected.