【Goldman Sachs Trader: The Pace and Magnitude of Fed Rate Cuts Depend on September's Non-Farm Payrolls】Golden Finance reports that Goldman Sachs Fixed Income Division (FICC) trader Rikin Shah and others stated that the market has been in a wait-and-see mode ahead of the Jackson Hole meeting. Powell's latest remarks have opened the green light for a rate cut in September, especially against the backdrop of recent adjustments to employment data that have drawn the Fed's attention to the labor market. This is a typical example of the 'downside risks to the labor market' that Powell mentioned in the last FOMC press conference and reiterated in his speech at the Jackson Hole central bank annual meeting. Goldman Sachs traders believe that if August's non-farm payroll growth is below 100,000, particularly in the face of political pressure, it will help determine a rate cut in September. Goldman noted that if the labor market continues to weaken, the window of opportunity is now. The bank believes that whether in a slowdown or normalization scenario, the Fed is very likely to complete this round of rate-cutting cycle before the new Fed chair takes office, that is, before the first half of 2026 ends.