Goldman FOMC Preview

Friday: • At 10:00 AM ET, 10:00 AM: New Home Sales for June from the Census Bureau. The consensus is for an increase in sales to 550 thousand Seasonally Adjusted Annual Rate (SAAR) in June from 546 thousand in May. A few excerpts from an FOMC preview by Goldman Sachs economist Zach Pandl: The July 28-29 FOMC meeting is shaping up to be the calm before the storm. Short-term interest rate markets imply a zero probability that the committee will raise policy rates next week, but show a high likelihood of at least one hike before the end of the year. Thus, although changes to the stance of policy ......(read more)

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