Goldman Sachs released a report stating that the prediction for the Federal Reserve's rate cuts this year has been downgraded from 100 basis points to 75 basis points, and that reports on the rebound in core inflation have been greatly exaggerated. The core PCE inflation for the annualized increase from September to November of last year was 2.5%, slightly higher than the 2.3% for the previous three months, but lower than the annual increase of 2.8%, still in line with the phenomenon of a continued decline. The report also indicated that the adjusted average PCE inflation from the Dallas Fed for the annualized PCE inflation from September to November of last year was 2.4%, with 1.8% in November last year. As the labor market tightens back to 2017 levels, the annual rate of wage growth has slowed to 3.9%, within a range of 3.5% to 4%. If productivity grows by 1.5% to 2% in the coming years, this will align with a 2% inflation rate.