Tariffs are a wild-card for inflation this year, but it is too soon to say what any changes will mean for the Federal Reserve, said central-bank newcomer Beth Hammack. In an interview, the Cleveland F

This year’s sharp decline in funding spread suggests that institutional investors’ positioning in equities is shifting as markets rethink the Federal Reserve’s interest-rate path, according to strategists at Goldman Sachs Group Inc.

Goldman Sachs now forecasts the Federal Reserve will cut interest rates twice in 2025, compared to its earlier estimate of three cuts, citing persistent inflation and a robust labor market. The anticipated cuts

Goldman Sachs Group Inc. said it no longer sees gold reaching $3,000 an ounce by the end of the year, pushing the forecast to mid-2026 on expectations the Federal Reserve will make fewer rate cuts.

Another engine of value creation for Wall Street that has been slow in recent years is the IPO market — which is also set to pick up.

Goldman Sachs pushed its $3,000 per ounce gold target from the end of the year to mid-2026, citing a slower pace of rate cuts than previously expected.

The Wall Street bank now sees the euro falling below parity to 0.97 against the dollar in six months — a level last breached in 2022 after Russia’s invasion of Ukraine triggered an energy crisis in Europe and ignited fears of a slowdown. That compares with the previous forecast of 1.05.

The central bank’s recent infusion of financial-market brawn includes Beth Hammack, who worked for three decades at Goldman Sachs.

Risk assets trade weak as investment banks pare back Fed rate cuts in the wake of Friday's hotter-than-expected U.S. jobs report.

History shows stocks can usually handle a gradual rise in yields just fine, according to analysts at Goldman Sachs. But the S&P 500 has tended to struggle if the 10-year yield moves more than two standard deviations, which would currently be equal to around 60 basis points, or 0.6 percentage points, in a month, they found (see chart below).

JPMorgan Chase stands head-and-shoulders above the rest of this group of largest U.S. banks by ROAA, while Morgan Stanley runs a pretty close second when its performance is measured by ROTCE. And with such a large balance sheet, it is not a stretch to call JPM the best performer in the U.S. banking industry.