Goldman Sachs Research (GSR) recently forecast that the US Federal Reserve (Fed) will cut interest rates again in December.

Seeing ‘genuine’ signs of weakness in the US job market, it does not expect the picture to change enough by the December meeting for the Federal Open Market Committee (FOMC) to stop cutting.

Goldman Sachs Research recently forecast that the US Federal Reserve will cut interest rates again in December.
Seeing ‘genuine’ signs of weakness in the US job market, it does not expect the picture to change enough by the December meeting for the Federal Open Market Committee to stop cutting.
It also expects two 25-basis-point cuts in March and June next year to a terminal rate of 3-3.25 per cent.

Though Fed chair Jerome Powell was more hawkish than expected during the central bank’s recent press conference, Goldman Sachs Research still expects policymakers to lower their target rate again this year.

It also expects two 25-basis-point cuts in March and June next year to a terminal rate of 3-3.25 per cent, it said in an insights article on its website.

The FOMC cut its target rate in October for the second time this year, lowering the fed funds rate by 25 basis points to 3.75-4 per cent. The Fed also said it would stop running off its $6.6-trillion balance sheet at the start of December. The principal payments of mortgage backed securities will only be reinvested into Treasury bills.

While most official economic data releases have been suspended by the government shutdown, Powell noted that the available official and alternative indicators suggest that inflation (net of tariff effects) is now close to the 2-per cent target and that the labour market has continued to cool gradually.

The FOMC’s summary of economic projections for September implied that most participants saw a December cut as the baseline, according to Goldman Sachs Research. The Fed’s past packages of risk management cuts (proactive rate cuts to guard against potential risks to the economy) also suggest that a third and final cut is the default.

Labor market data are “unlikely to send a convincingly reassuring message” by the time of the FOMC meeting in December, David Mericle, chief US economist, wrote in the team’s report.

Deferred resignations of government employees instigated by the Department of Government Efficiency are likely to generate a negative payrolls report in October and “weigh a bit on November,” Mericle added.

Fibre2Fashion News Desk (DS)

For Holiday 2025, H&M delves into opulence and glamour with a high fashion twist. Partywear, outerwear, knitwear and tailoring revel in silky, fluid fabrics, metal detailing, faux furs and statement knits. The silhouettes are dramatic, draped and effortlessly play with volume. From high-octane celebrations to luxe lounging, the mood is always joyous yet sophisticated. The Holiday 2025 collection– for women, men and kids –will be available from 6 November in select stores and online at hm.com

Standout pieces include a black embellished velvet kimono-style jacket with matching trousers, a black open-back sleeveless satin top with velvet tie at the neck and sheer balloon trousers with velvet side panels, a range of decadent draped dresses and tops, and a sharp double-breasted black tuxedo with a black waterfall bandeau top.

H&M’s Holiday 2025 collection celebrates opulence with a high-fashion edge, featuring velvet, satin, faux fur and leather across dramatic silhouettes, statement knits and sharp tailoring.
With rich hues and bold textures, the range for women, men and kids embodies elevated festive glamour.
Launches in select stores and online from November 6, 2025.

“There’s a real party mood this holiday season, but in a more lavish, sensual way. Everything feels elevated – luxe fabrics like velvet, satin, faux fur and leather, elaborate draping, slim suits and hyper-textured knits. The look is powerful and exquisite at the same time. Each piece from the collection is worthy of a moment,” says Eliana Masgalos Duarte, Womenswear Design Director at H&M.

The colour palette is rich and restrained with black, white, grey, browns, burgundy and mossy greens. Textures are key, from luxe velvet, lurex and sequins in new techniques to faux fur, shearling, leather, and brushed knits, loop knits and tassels.

For accessories, faux fur reigns supreme, from bags and shoes to hats, while jewellery is big and bold.

For the Holiday 2025 menswear, there’s a similar confidence and opulence, though more relaxed in silhouette. Sartorial ease comes in the form of hairy textures, subtle sheen and velvet touch denim. Key pieces include a statement parka, a washed shearling jacket, cosy heritage knits and boxy pinstripe suits with drapey shirts. The blend of timeless craftsmanship and modern versatility makes the collection smart and stylish.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)