The Federal Reserve is unlikely to raise interest rates at its Oct. 31-Nov. 1 meeting, Goldman Sachs strategists wrote on Saturday, while also forecasting the U.S. central bank would lift its economic growth projections when policymakers gather next week.
"On November, we think that further labor market rebalancing, better news on inflation, and the likely upcoming Q4 growth pothole will convince more participants that the FOMC can forgo a final hike this year, as we think it ultimately will," the investment bank's strategists wrote in a report.
Goldman’s strategists, however, wrote that they expect the Fed's "dot plot," which reflects policymakers' interest rate projections and will be updated on Wednesday, to show "a narrow 10-9 majority still penciling in one more hike, if only to preserve flexibility for now," they wrote.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs shakeup in prized division could signal bloodbath: sourcesBousquette is replacing Laurence Stein, a well-liked and longtime partner who Goldman said was “retiring” at year’s end after nearly three decades at the firm.
Read more »
Arm, Goldman Sachs, KeyCorp rise premarket; Ford, Adobe, Nucor fall By Investing.comArm, Goldman Sachs, KeyCorp rise premarket; Ford, Adobe, Nucor fall
Read more »
Buy this landfill stock as it flexes its strong market share, Goldman Sachs saysGoldman Sachs says this environmental waste services company can keep boosting its size and maintain a strong market share.
Read more »
Goldman Sachs names exec to new unit within Wealth Management businessGoldman Sachs Group Inc. on Friday named executive Monali Vora as head of the bank’s new Wealth Investment Solutions unit within its Asset Management...
Read more »
Yield curve pioneer warns Fed not to raise rates, predicts possible recession in 2024Duke University's Campbell Harvey said it would be unwise for the Federal Reserve to raise rates in November, citing current economic figures and conditions.
Read more »
Goldman Sachs plans to launch sports franchise unit to offer sports team stakes to high net worth clients: WSJGoldman Sachs Group Inc. is planning to launch a new sports franchise unit in its investment banking business to offer its wealthier clients ownership stakes...
Read more »