We 'definitely' won't see the Fed cutting interest rates this year but it will pull off a soft landing, Goldman Sachs strategist says
Stock market investors shouldn't expect the Federal Reserve to reverse course and start cutting interest rates this year, according to a top Goldman Sachs strategist.
US stocks ended mixed on Wednesday after minutes from the Fed's last meeting showed that the central bank is highly likely to continue with its tightening, and that some policymakers favored a larger, 50-basis-point rate hike this month rather than the 25-basis-point increase that was eventually announced.
The risk of recession also typically hurts demand for equities, as a severe economic downturn can weaken the performance of companies and affect their valuations.
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