Goldman Sachs on FOMC - FJElite

Fed hiked by 0.25pp to 3.75-4.00%, the first hike since July 2023. There were no dissents from the Committee’s decision. We now expect lx hike in October. Much more hawkish set of dots, with the plot showing one additional rate hike for 2026 and no cut next year. The statement noted that inflation “remains elevated” and that “today’s policy action will support a timelier return to the Committee’s 2 percent goal.” Chairman Warsh did not submit projections. Link