Goldman Sachs: Fed May Cut Rates Earlier

July 8th: President Trump of the United States stated that the tariff letter sent today is, to a certain extent, the final offer. The deadline for August 1st (trade negotiations) has been set, but he is receptive to other concepts. Previously, Trump had successively released tariff letters on social media to multiple countries. As of the time of writing, he has issued the latest tariff rate threat to 14 countries. Japan, South Korea, Kazakhstan, Malaysia, and Tunisia are faced with a 25% tariff rate; South Africa and Bosnia have a 30% rate; Indonesia has a 32% rate; Bangladesh and Serbia have a 35% rate; Thailand and Cambodia are faced with a 36% rate; Laos and Myanmar have a 40% rate. The above tariffs will come into effect on August 1st. (FX678)

July 8th. According to foreign media reports, Musk is engaged in creating a new party with the intention of disrupting the American political system. He has had discussions regarding this nascent endeavor with Andrew Yang, a Chinese-American entrepreneur and former Democratic presidential candidate. Andrew Yang, who ran for President of the United States in 2020 and is also the founder of the independent "Forward Party," stated in an interview that he has been in "communication" with Musk and his team. "I am excited for anyone who desires to break free from the duopoly of the donkey and the elephant," Yang said. "I am pleased to assist others in understanding what this path appears like." Yang did not respond to follow-up questions regarding the time of their conversations and the other issues they discussed. After running for Mayor of New York City as a Democrat in 2021 and experiencing a loss, Yang intensified his criticism of the American two-party system. The "Forward Party" has

On July 8th in the White House, USA: Trump signed an executive order to extend the tariff deadline to August 1st. (Xinhua News Agency)

On July 8th, Goldman Sachs anticipates that the Federal Reserve will lower interest rates in September. This is three months earlier than what was previously forecasted. This change indicates certain preliminary indications that the inflation related to tariffs has been less severe than anticipated. Meanwhile, anti-inflation factors such as the slowing growth of wages and the weakening of demand are taking shape. The bank's chief economist in the US, David Mericle, estimates that the probability of a rate cut in September is "slightly above" 50%. It is expected that there will be rate cuts of 25 basis points in September, October, and December, and two more cuts in early 2026. Goldman Sachs has also reduced its terminal rate expectations from 3.5%-3.75% to 3%-3.25%.

July 8th: Lael Brainard, a leading candidate for the next Federal Reserve Chair and a former Fed Governor, stated that the Federal Reserve's decision to maintain the monetary policy interest rate unchanged had left the U.S. President frustrated, and she expressed sympathy. She believed that the interest rate should be lowered to a lower level. She also claimed that Trump's tariffs would not have an inflationary impact. (Oriental Fortune Network)

On July 8th, a White House official declared that tariffs would not be imposed in a cumulative manner. (Golden Finance)