Goldman Sachs Global Trading Strategy Director: Expects the US to cut interest rates four times in 2024

Joshua Schiffrin, Global Head of Trading Strategy at Goldman Sachs Group, believes that the Federal Reserve will start cutting interest rates from March and is expected to cut rates four times this year. The inflation rate will reach the Fed's target of 2%.

The trading director who accurately predicted a soft landing for the US economy last year expects central banks in Europe and Britain to follow suit with the Fed. However, in his top ten predictions for 2024, Schiffrin believes that the Bank of Japan is likely to go against the trend and raise interest rates in April.

Schiffrin warns that although risk assets are set to rise broadly this year, due to fluctuating market bets on when and how fast the Fed will cut rates, it could be difficult navigating through markets during first half of this year. He suggests investors look for opportunities in emerging markets like Turkey.