Goldman Sachs said that the first interest rate cut may come later than the bank’s forecast of July, citing the latest comments by Federal Reserve Governor Christopher Waller.
With only two months of inflation readings before the July meeting, the bar for inflation alone to prompt rate cuts appears"fairly high," Goldman noted. The threshold of “several” months implies that inflation data must consistently show progress, which may not align with the bank's expectations. This is because Waller's views may not reflect the consensus within the Federal Open Market Committee , while the labor market has shown signs of slowing recently.
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