KONTAN.CO.ID - NEW YORK. The U.S. Federal Reserve will hold off cutting rates until the fourth-quarter of next year, according to Goldman Sachs economists who cited stronger-than-expected economic growth that is helping forestall a recession. So far this year, the U.S. economy has defied recession fears and "made substantial progress toward a soft landing," Goldman's David Mericle and the firm's economics team said in a note dated on Sunday. Goldman now expects a "historically average" 15% chance of recession over the next 12 months, compared to the consensus probability of 48%, the firm said.
US Rate Cut Not Seen Until Q4 2024 Due to Strong GDP Growth
KONTAN.CO.ID - NEW YORK. The U.S. Federal Reserve will hold off cutting rates until the fourth-quarter of next year, according to Goldman Sachs economists who cited stronger-than-expected economic growth that is helping forestall a recession. So far this year, the U.S. economy has defied recession fears and "made substantial progress toward a soft landing," Goldman's David Mericle and the firm's economics team said in a note dated on Sunday. Goldman now expects a "historically average" 15% chance of recession over the next 12 months, compared to the consensus probability of 48%, the firm said.