Investing.com -- Goldman Sachs economists said Wednesday they continue to expect two rate cuts this year following a “mostly uneventful but dovish” Federal Open Market Committee meeting.
Economists said the most noteworthy aspect of Powell’s speech was his strong pushback against the idea of interest rate hikes. Should inflation progress stall, Powell suggested that the FOMC's response would likely be to delay any planned rate cuts rather than to increase rates, setting a high threshold for any potential hikes, Goldman highlighted.
Furthermore, he noted that inflation expectations remain stable and underscored the time delays inherent in the inflation process.
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