ICYMI - Goldman Sachs pushes back expectation of first Fed rate cut to Q4 2024 (from Q2)

If you didn't get the memo its 'higher for longer' for the Federal Reserve:

• Forexlive Americas FX news wrap 20 Sep: Fed keeps steady but shifts to higher for longer

Justin posted on the Goldman Sachs rate cut expectation revision here:

• Goldman Sachs pushes back expectation of first Fed rate cut to Q4 2024

Goldman Sachs were previously forecasting the first FOMC cut in Q2 of 2024.

Adding in a little more now from GS analysts:

• participants appeared to move away from the view that monetary policy tightening could weigh on growth with a long lag next year, which weakens one argument for cutting
• "We think this means that inflation will have to fall further than we previously assumed for the FOMC to cut.