Goldman Sachs: The Fed is unlikely to cut interest rates because of weak "soft data"

Planet Daily News: U.S. consumer and business surveys reveal an anxious economic sentiment, but fundamental data has not yet shown a serious economic slowdown. Goldman Sachs economists wrote that the Federal Reserve is unlikely to ease policy based solely on "soft data", especially since in the recent past, soft data incorrectly signaled an imminent recession, such as during the Fed's fight against inflation in 2022. Goldman's team wrote that the Federal Reserve "also wants to see evidence from the labor market and other hard data before cutting rates". Like other Wall Street institutions, this investment bank believes the Federal Reserve will keep interest rates unchanged at Wednesday's rate resolution. (Jin Shi)