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

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 Decemberexpect 4 further rate cuts in 2025expect 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.

This article was written by Eamonn Sheridan at www.forexlive.com.

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