[Goldman Sachs: Nonfarm Payrolls Exceed Expectations, CPI Surprise on Friday Could Turn Fed Hawkish] Kay Haigh, an analyst at Goldman Sachs Asset Management, stated that there are some initial signs of the labor market tightening again, but it is still a long way from fully tightening. Given the economy's continued outperformance, the FOMC's focus will shift to the inflation outlook. We still believe the Federal Reserve has room for two rate cuts this year; however, if Friday's CPI unexpectedly rises, it could push the Fed toward a more hawkish stance.