Goldman Sachs have 3 three takeaways from Powell's press conference
Goldman Sachs on their 3 "three takeaways from Powell's press conference:First, Powell was not concerned by the firmer January and February inflation data. Second, Powell noted that, while the FOMC raised its 2024 GDP growth forecast meaningfully, stronger growth has been made possible recently by faster growth of labor supply and is therefore not an argument against rate cuts. Third, FOMC participants think it will be appropriate to slow the pace of balance sheet runoff "fairly soon."Need more flags***ps. More from Goldman Sachs:“Our interpretation is that Chair Powell and a narrow majority of the Committee feel strongly about not delaying cuts for too long and are targeting the June FOMC meeting for the first cut” This article was written by Eamonn Sheridan at www.forexlive.com.
Goldman Sachs on their 3 "three takeaways from Powell's press conference:
- First, Powell was not concerned by the firmer January and February inflation data.
- Second, Powell noted that, while the FOMC raised its 2024 GDP growth forecast meaningfully, stronger growth has been made possible recently by faster growth of labor supply and is therefore not an argument against rate cuts.
- Third, FOMC participants think it will be appropriate to slow the pace of balance sheet runoff "fairly soon."
Need more flags
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ps. More from Goldman Sachs:
- “Our interpretation is that Chair Powell and a narrow majority of the Committee feel strongly about not delaying cuts for too long and are targeting the June FOMC meeting for the first cut”
