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.
