On May 3rd, the strong non-farm payroll data released on Friday led both Goldman Sachs and Barclays to make the same prediction: that the Federal Reserve (FED) may not cut interest rates until at least July. Goldman Sachs still expects three interest rate cuts of 25 basis points each in 2024, in July, September, and December, but also warns that if future employment data remains strong, the timing of the rate cuts may be further delayed. (Wall Street Insights)