Goldman shifts the timing of its next expected Fed cut to December (previously, it was July) "In light of these developments and the meaningful easing in financial conditions over the last month, we are raising our 2025 growth forecast by 0.5pp to 1% Q4/Q4 and reducing our 12-month recession odds to 35%." "We have lowered our core PCE inflation path to peak at 3.6% (vs. 3.8% previously)"