Goldman Sachs: The Federal Reserve may cut rates more aggressively next year, focusing on the unemployment rate rather than nonfarm payrolls

ChainCatcher news, according to Golden Ten Data, Goldman Sachs expects that the Federal Reserve may be more willing to further cut interest rates next year than the market previously assumed. Josh Schiffrin, Chief Strategist of Goldman Sachs Global Banking & Markets, stated that Powell's press conference signaled that the Fed is increasingly concerned about the sustainability of employment conditions. Schiffrin believes that the upcoming employment reports will be key factors in determining whether the Fed resumes an easing policy, and the market will pay particular attention to the unemployment rate rather than the overall growth in non-farm payrolls. Goldman Sachs expects the easing cycle to extend into 2026, with the federal funds target rate possibly dropping to 3% or lower.