Goldman Sachs Asset Management stated in a new report that it does not expect the Federal Reserve to enter a sustained rate-hike cycle. The firm cited fading tariff and energy-related price pressures, an economy showing little sign of overheating, and anchored inflation expectations as key factors supporting this outlook. Despite this view, the Fed’s latest dot plot indicates one more rate hike this year. Money market pricing currently reflects expectations for a cumulative 37 basis points of hikes across the central bank's two remaining meetings in 2026, according to LSEG data.