Goldman Sachs has expressed skepticism regarding the market's expectations for a Federal Reserve rate hike in September, noting that inflation in the U.S. has fallen to 4%. Chief economist Jan Hatzius characterized the prospect of a rate increase at the upcoming meeting as "extremely unlikely," citing lackluster retail sales, disappointing employment figures, and the recent decline in inflation rates. A week earlier, markets had fully anticipated a 25 basis point increase in December, but this has now shifted to expectations for January 2027.