Goldman Sachs: The Fed will increase its easing efforts and eventually cut the federal funds rate by about 200 basis points

"We expect Powell to express more confidence in the inflation outlook and emphasize the downside risks to the labor market more than he did in the press conference after the July FOMC meeting," Goldman Sachs economist David Mericle said in a recent report. Goldman Sachs' expectations for the Fed's interest rate outlook are basically consistent with the market: the Fed is expected to cut interest rates at each of the next three meetings, and then increase easing efforts, eventually cutting the federal funds rate by about 200 basis points. The bank believes that Powell will very generally announce this policy path at the Jackson Hole meeting. (Jinshi)