'The great disinflation' will set the stage for 5 Fed rate cuts in 2024, Goldman Sachs says

• The world economy has entered a period of "great disinflation," Goldman Sachs said Monday.
• The Federal Reserve is likely to slash interest rates five times in 2024, according to the bank.
• Its outlook comes after chair Jerome Powell's dovish comments sparked last week's stock-market surge.

Cooling inflation will set the stage for the Federal Reserve to slash interest rates as many as five times next year, according to Goldman Sachs.

The bank's chief economist Jan Hatzius said Monday that the world economy has now entered a period of "Great Disinflation" that will enable policymakers to start cutting borrowing costs in early 2024.