In a Friday note, the bank also raised its six- and 12-month return forecasts to 5% and 8%, implying S&P 500 levels of 7,000 and 7,200. The Fed last week cut rates for the first time since December and flagged further reductions in October and December as the labor market softens.
Goldman continues to project quarter-point cuts at both meetings, a view shared by most major brokerages.
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