Goldman Sachs predicts: The Federal Reserve will start cutting interest rates in September, potentially by up to 50 basis points

Goldman Sachs expects the Federal Reserve to start cutting interest rates in September, with three consecutive cuts of 25 basis points each, and a potential 50 basis point cut if the unemployment rate rises. San Francisco Fed President Mary Daly pointed out the weakness in the labor market, indicating that the timing for rate cuts is approaching. New York Fed President John Williams is open to rate cuts but needs to ensure inflation is under control. The U.S. added far fewer jobs than expected in July, leading to increased market expectations for rate cuts. Nevertheless, Bank of America still believes the Federal Reserve will keep interest rates unchanged