Goldman Sachs Group Inc. economists raised their recession probability assessment and brought forward the forecast timing of the next US Federal Reserve interest-rate cut following the Trump administration’s tariff announcement.

The new forecast sees the Fed lowering rates in July, September and November – an increase from earlier bets on two cuts this year and one in 2026, according to a team of Goldman economists.

Wall Street giant Goldman Sachs has predicted that the US Federal Reserve will trim interest rates three times this year, which could bode well for

Goldman Sachs Group Inc. economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.

(Reuters) -Goldman Sachs expects more interest rate cuts from the U.S. Federal Reserve and the European Central Bank and lowered its economic growth outlook for both these regions, as it sees heightened recession risks due to U.S. tariffs.