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Goldman Sachs does not expect the Fed to give much guidance on plans for its next meeting. Possible post-election changes in fiscal policy are another source of risk to the Fed's policy path, although that risk is likely to persist for longer. Mr. Powell's comments at his July press conference suggest the FOMC will be reluctant to respond to possible policy changes because they remain speculative. Even after the election results are announced, the committee is likely to be more...
On August 3, Chicago Federal Reserve President Goolsbee stressed that the Federal Reserve will not overreact to any economic report and that policymakers will have a lot of data before the Fed's next meeting. Speaking after the release of the weaker-than-expected non-farm payrolls report, Goolsbee said that the Fed's job is to figure out the "continuity" of the data and act in a "stable" manner. However, he pointed out that if the restrictive rate remains in place for too long, policymakers must...
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