Goldman Sachs Extends Rate Cut Timeline As Inflation Refuses To Exit Quietly

For most of this year, Wall Street has been trading on a fairly simple idea: inflation was cooling, the Federal Reserve would eventually cut rates, and markets could keep pushing higher without much standing in the way.
That story is starting to get messier.
Goldman Sachs has pushed back its forecast for when the Federal Reserve could begin cutting interest rates, pointing to growing inflation pressure tied to rising oil prices and continued geopolitical uncertainty. The revision may look like a routine forecast update on paper, but it reflects a wider shift taking place across financial markets.
The confidence that fueled the rally earlier this year is beginning to soften.
Oil Is Back at the Center of the Market
The change in tone starts with energy.
Oil prices have climbed sharply in rec