Goldman Sachs: What to watch in today’s June FOMC meeting minutes ...Middle East

Key Points:

Framework review insights• Goldman expects the minutes to add context to the Fed’s internal discussion about its framework strategy.• The May minutes signaled that the Fed will likely return to flexible inflation targeting (FIT) as its primary approach — moving away from the flexible average inflation targeting (FAIT) adopted in 2020.• However, the Fed is expected to keep the option of a make-up strategy for times when rates hit the zero lower bound.

Conclusion:

Goldman Sachs sees the minutes as an opportunity to better understand the narrow divide within the Committee, the near-term reaction function for cuts, and how the Fed might refine its framework — all of which are crucial for markets pricing the path of rates into 2025 and beyond.

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This article was written by Adam Button at www.forexlive.com.

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