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Goldman Sachs Delays Fed Rate Cut Expectations to December 2026 Amid 3% Core PCE Inflation

GateNews
Forex

According to Goldman Sachs (via ChainCatcher), the bank pushed back its forecast for the Federal Reserve’s next two rate cuts to December 2026 and March 2027, citing persistent inflation pressure. Following the April 29 FOMC decision, Goldman Sachs economists noted that energy cost pass-through could keep core Personal Consumption Expenditures (PCE) inflation near 3% throughout 2026, above the Fed’s 2% target. The economists also stated that monthly data softening and labor market weakness must precede any rate cuts. The April 29 meeting saw four dissenting votes, the most since 1992, with the Fed maintaining the federal funds rate at 3.50%-3.75%.

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