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Goldman Sachs preview the Federal Open Market Committee (FOMC) this week – no cut, but … | Forexlive

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Goldman Sachs preview the Federal Open Market Committee (FOMC) this week – no cut, but … | Forexlive

The Federal Reserve’s Federal Open Market Committee (FOMC) meeting this week, on Tuesday and Wednesday.

Statement due at 2pm US Eastern time, with Powell’s press conference following a half hour later:

Pretty much the unanimous expectations out there is for no rate cut. As for the dot plot, consensus is it’ll show two rate cuts in 2024, from showing 3 at the previous update back in MAarch.

Goldman Sachs, in brief:

  • expect 2024 rate cuts in September and December
  • expect 4 further rate cuts in 2025
  • expect another two rate cuts in 2026

GS suggest that other global central banks cutting rates increases the pressure the Fed will feel to cut also.

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