TechFlow, July 22 — According to Jinshi Data, Goldman Sachs expects the Federal Reserve to hold interest rates steady next week and begin cutting rates at three of its remaining meetings in 2025, as a slowing labor market puts pressure on policymakers. Private-sector hiring has nearly reached a "stall speed," with risks of further deceleration; meanwhile, consumer spending has stagnated for six consecutive months—a situation extremely rare outside of recessions. Goldman Sachs also forecasts two additional rate cuts by the Fed in early 2026.
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