According to Deep Tide TechFlow news on July 8, citing data from Jin Shi, Goldman Sachs expects the Federal Reserve to cut interest rates in September, three months earlier than previously predicted. This shift reflects some early signs that tariff-related inflation is milder than expected, while deflationary forces—including slowing wage growth and weakening demand—are taking shape. The bank's Chief U.S. Economist, David Mericle, estimates that the likelihood of a rate cut in September is 'slightly above' 50%, with cuts of 25 basis points expected in September, October, and December, and two more cuts anticipated in early 2026. Goldman Sachs has also lowered its terminal rate expectation from 3.5%-3.75% to 3%-3.25%.