Goldman Sachs economists now believe that the Federal Reserve will cut interest rates by 25 basis points in June and September 2025, compared to the previous forecast of May and June. Chief economist Jan Hatzius and his team mentioned in a report on November 7 that the Federal Reserve may want to be more cautious in their actions after the 25 basis point rate cut. They expect the Federal Reserve to cut rates by 25 basis points at the meetings in December, January, and March. Barclays has revised its Fed rate cut forecast for 2025 from three times to two times.