Goldman Sachs expects series of consecutive 25 basis point Fed cuts ahead

Goldman Sachs predicts consecutive 25-basis-point rate cuts by the U.S. Federal Reserve from November 2024 through June 2025, targeting a terminal rate of 3.25%-3.5%. This follows the Fed's recent half-point rate cut. The European Central Bank is also expected to implement sequential 25-bps cuts until reaching a 2% rate by June 2025.