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2026-02-13 21:58:19
[Goldman Sachs: January CPI Paves the Way for Rate Cuts, Expects Two Cuts This Year in June] ⑴ Lindsay Rosner, Head of Multi-Sector Fixed Income Investments at Goldman Sachs Asset Management, stated that given the January CPI data was not as strong as feared, the Fed's "normalization" rate-cutting path seems clearer. ⑵ She pointed out that this will depend on whether the job market continues to show signs of improvement, as the FOMC is highly sensitive to weakness in the labor market. ⑶ Goldman Sachs still expects the Fed to cut rates twice this year, with the next cut in June. ⑷ From a policy perspective, the combination of slowing inflation and strong employment in January allows the Fed to retain room for maneuver throughout the year while observing more data. Goldman Sachs' expectations are largely consistent with current market pricing, reflecting investors' consensus on gradual rate cuts under a "soft landing" scenario. ⑸ The market needs to pay attention to the evolution of inflation and employment data in the coming months, especially whether core services inflation continues to decline and whether there is substantial easing in the labor market, which will determine whether the June rate cut window will open as expected.
