This week's inflation data provided more evidence that the Federal Reserve is nearing its 2% objective, a mark that Goldman Sachs thinks the central bank may have already hit. From a policy standpoint,

Most investors were expecting the Federal Reserve to cut rates by 0.25% or 0.50%. The move was already well-baked into the market, so it’s not surprising to hear they went for the full 0.50%. But this is only the beginning of a series of cuts expected over the next year or two.