Joshua Schiffrin, global head of trading strategy at Goldman Sachs Group, believes that the Federal Reserve will start cutting interest rates in March and is expected to cut interest rates a total of four times this year, and the inflation rate will reach the Fed's 2% target.
The trading chief, who last year accurately predicted a soft landing for the U.S. economy, expects central banks in Europe and the United Kingdom to follow the Fed's lead. However, in his top 10 forecasts for 2024, Schiffrin believes that the Bank of Japan is expected to buck the trend and raise interest rates in April.
Schiffrin reminded that although risk assets will generally rise this year, the market in the first half of the year will be difficult to navigate as the market's bets on the timing and pace of the Federal Reserve's interest rate cuts change. He advised investors to look for opportunities in emerging markets such as Türkiye. (Golden Ten)