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:
![Federal Reserve Goldman Sachs fomc 10 June 2024 2](https://images.forexlive.com/images/Federal%20Reserve%20Goldman%20Sachs%20fomc%2010%20June%202024_id_12447d4f-8f94-4df7-b5db-c53fb5b17322_original.jpg)
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.