Analysts from Goldman Sachs Group Inc. predict that the US Federal Reserve System will begin reducing the base interest rate at the end of June 2024. At the September meeting, the rate is expected to be kept at 5.25-5.5% per annum. Experts believe that by November of this year, inflation in the United States will show a noticeable slowdown, so further rate increases will become impractical. According to Goldman Sachs experts, the Fed will begin the process of lowering rates in the second quarter of 2024, reducing it by 25 basis points each quarter. However, it is important to note that at the moment the normalization of monetary policy is most likely not a priority for the Fed. In this regard, the bank's analysts see the risk that the Fed may start lowering the rate later than it is currently forecast. In the long term, the Fed rate is projected to stabilize at the level of 3-3.25% per annum.