Money isn't real
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FOMC Preview
Expectations are the FOMC will cut the Fed Funds rate 25bp at the meeting this week. Here are some comments from Goldman Sachs chief economist Jan Hatzius: We expect the FOMC to deliver a third and final 25bp rate cut at the upcoming meeting. … We believe the mixed growth data since the last meeting more closely resembles the Committee’s baseline forecast than the downside scenarios under discussion. … We expect a somewhat hawkish rewording, with “act as appropriate to sustain the expansion” replaced by a reference to recent easing and the less committal “will act as needed to promote its objectives.” ... (full story)