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Goldman Sachs Says Fed Chair Change May Not Speed Up Rate Cuts
Goldman Sachs economist David Merrick said a possible Fed leadership change may not quickly shift policy, and the bank still expects two 25 basis point rate cuts in September and December. Merrick said a new chair may struggle to push cuts more forcefully than Jerome Powell if the FOMC is divided. Merrick also said uncertainty around the Middle East war could limit the case for faster easing.