Goldman Sachs Asset Management predicts U.S. economic growth to slow to 2% in 2024

Goldman Sachs Asset Management expects U.S. economic growth to slow to about 2 percent in the second half of 2024, with stock indexes essentially flat due to slumping corporate earnings growth and political anxiety, executives said Tuesday. "It's definitely a soft landing," said Lindsay Rosner, the bank's head of multisectoral investments.

Rosner added that investors are "very likely" to see U.S. interest rates cut in the second half of 2024. She doesn't expect the Fed to start cutting rates until September, but it may do so at a rate of 25 basis points per quarter. As rates fall, Rosner expects fixed income markets to benefit. She sees particularly interesting opportunities in the high-yield bond market and in the structured credit space.