Goldman changes tune on the Fed, sees two rate cuts and early end to balance sheet rolloff

CNBC/Jeff Cox/6-20-2019

“The Federal Reserve may be on its way to delivering a half-point interest rate cut next month even though economic conditions don’t seem to warrant such an aggressive move, according to Goldman Sachs economists.”

USAGOLD note:  Goldman’s Jan Hatzius makes a case similar to Jeff Gundlach’s as posted below and mentioned in this morning’s DMR. He says that FOMC members are “increasingly influenced by the expectations embedded in bond market pricing.”  In other words, the Fed is chasing not leading rates set in the bond market.

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