Wall Street Journal reporter Nick Timiraos stated in a report that Goldman Sachs has advanced its expectation for the Fed's first rate cut from December to September, predicting three rate cuts for the year, totaling 75 basis points. Goldman Sachs pointed out that initial signs show the impact of tariffs is lower than expected, while other factors driving inflation downward are more robust. It also believes that Fed officials most likely view tariffs as only causing a one-time increase in price levels.