Nvidia's new Rubin platform launch; Goldman predicts stable bull market; Fed's Kashkari on cooling job market.

Federal Reserve's Kashkari: Job Market Cooling, Rates Near Neutral Level

Overview

Neel Kashkari, the President of the Minneapolis Federal Reserve and a voting member of the FOMC in 2026, stated that current U.S. interest rates may be approaching a "neutral rate" that neither stimulates nor suppresses the economy. Future Fed policy will depend on the latest economic data.

Key Points

• The job market is showing clear signs of cooling.
• Inflation risks are primarily related to its persistence, with tariffs potentially taking years to fully impact prices.
• There is a notable risk of rising unemployment from current levels.
• Although inflation has decreased, the pace remains slow, causing anxiety among low- to middle-income groups.

Dalio: AI Boom in Early Bubble Stage

Insights from Bridgewater's Founder

Ray Dalio, founder of Bridgewater Associates, warned that the AI-driven surge in tech stocks on Wall Street is currently in the early stages of a bubble.

Market Trends

• The U.S. stock market is expected to significantly lag behind non-U.S. markets and gold assets in 2025.
• Investors are more inclined to allocate funds to non-U.S. stocks and bonds.
• The new Fed Chair and FOMC are likely to favor lowering nominal and real interest rates, which may support asset prices but also inflate the bubble further.

Goldman Sachs: Overweight on Chinese Stocks

Strong Bullish Signal

Goldman Sachs' Hui Shan strategist team has issued a strong bullish signal for Chinese assets, recommending investors to "overweight" Chinese stocks in the regional context.

Market Forecast

• Driven by corporate earnings growth and valuation recovery, the Chinese stock market is expected to enter a robust bull market in 2026 and 2027.
• The anticipated annual increase is projected to be between 15% and 20%.