The U.S. economy is in a “sweet spot” and the market is possibly too pessimistic on the pace of Federal Reserve interest rate cuts. That’s according to Jan Hatzius, chief economist at Goldman Sachs, who in a new note published Monday,

Goldman Sachs said the copper market is currently pricing in a 50% chance of a 10% US tariff on the red metal by the end of first quarter.

Keefe, Bruyette & Woods analyst David Konrad maintained an Outperform rating on Goldman Sachs and raised its price target to $690. The bank posted strong quarterly results, driven by a 33% year-over-year surge in trading revenue and growth in asset management.

Goldman Sachs on Monday said the copper market is pricing in odds of about 50% that there will be a 10% U.S. tariff on the metal by the end of the first quarter of this year. Analysts at the U.S. investment bank said in a client note that the estimate is similar to their own 50% subjective probability of a 10% effective tariff on copper by year-end.

Goldman Sachs reported Monday that the copper market is pricing in a 50% chance of a 10% U.S. tariff on the metal by the end of Q1 2025. The banks own estimate aligns with this, assigning a 50% probability of such