Goldman Sachs: It is expected that the Federal Reserve will increase easing efforts, ultimately reducing the federal funds rate by about 200 basis points

ChainCatcher message, Goldman Sachs economist David Mericle said in a recent report: "We expect Powell to express more confidence in the inflation outlook and to emphasize the downside risks to the labor market more than he did in the press conference after the July FOMC meeting."

Goldman's expectations for the Federal Reserve's interest rate outlook are broadly in line with the market: it expects the Fed to cut rates at each of the next three meetings, followed by a more aggressive easing, ultimately reducing the federal funds rate by about 200 basis points. The bank believes Powell will very vaguely preview this policy path at the Jackson Hole meeting. (Jin Shi)