David Mericle, economist at Goldman Sachs, said in a recent note: "We expect Powell to express more confidence in the inflation outlook and highlight downside risks to the labour market more than he did in his press conference following the July FOMC meeting." Goldman Sachs' outlook for the Fed's interest rate outlook is largely in line with the market: the Fed is expected to cut rates at each of its next three meetings, and then increase easing, eventually cutting the federal funds rate by abou...