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#Goldman Sachs expects rate cuts only in the second half of 2027
The investment bank has pushed its rate-cut timeline back again.
Goldman Sachs’ latest forecast is for the second half of 2027.
That’s more than six months later than the market expects.
Why are they willing to push it back?
Inflation has refused to come down in recent months.
September’s core inflation data also came in above expectations.
The labor market hasn’t weakened enough to need rescuing, either.
The Fed has no reason to rush into a policy pivot.
Goldman Sachs says rates will stay higher for longer.
During this period, the cost of money will remain elevated.
Highly leveraged companies will feel the pressure first.
When their financing comes due and needs to be renewed, costs could shoot up.
For risk assets, this is a slow bleed.
Valuations depend on future cash flows.
When discount rates rise, longer-term assets fall first.
High-volatility assets like crypto feel the impact even more.
There’s support on the other side, too.
ETFs and institutional investors are still allocating money to the market.
With these two forces pulling in opposite directions, the market is prone to swings.
For crypto, the turning point in interest rates matters more than the price level.
Do you think we’ll have to wait until the second half of next year for rate cuts? Let’s talk in the comments.
#Goldman Sachs expects rate cuts only in the second half of 2027
The investment bank has pushed its rate-cut timeline back again.
Goldman Sachs’ latest forecast is for the second half of 2027.
That’s more than six months later than the market expects.
Why are they willing to push it back?
Inflation has refused to come down in recent months.
September’s core inflation data also came in above expectations.
The labor market hasn’t weakened enough to need rescuing, either.
The Fed has no reason to rush into a policy pivot.
Goldman Sachs says rates will stay higher for longer.
During this period, the cost of money will remain elevated.
Highly leveraged companies will feel the pressure first.
When their financing comes due and needs to be renewed, costs could shoot up.
For risk assets, this is a slow bleed.
Valuations depend on future cash flows.
When discount rates rise, longer-term assets fall first.
High-volatility assets like crypto feel the impact even more.
There’s support on the other side, too.
ETFs and institutional investors are still allocating money to the market.
With these two forces pulling in opposite directions, the market is prone to swings.
For crypto, the turning point in interest rates matters more than the price level.
Do you think we’ll have to wait until the second half of next year for rate cuts? Let’s talk in the comments.