Goldman Sachs: Fed has "good reason" to cut rates in July
Goldman Sachs economists said they believe the Federal Reserve "has good reason" to cut interest rates in the July 30-31 meeting, but did not change their forecast that the Federal Reserve will begin to cut interest rates in September. With the latest unemployment and inflation data suggesting that the Fed's monetary policy rules call for a federal funds rate of 4 percent and the current target range of 5.25-5.5 percent, Goldman Sachs chief economist Jan Hatzius said in a report, "We expect rate cuts to begin soon."
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