Goldman Sachs: It is expected that there will be no major changes to the Fed's policy statement today and the interest rate will be cut by 25 basis points in December

Goldman Sachs expects the Fed to not give much guidance on plans for its upcoming meetings. Possible changes in fiscal policy after the U.S. election are another source of risk to the Fed's policy path, although this risk may last longer. Powell's comments at the July press conference suggest that the FOMC will be reluctant to respond to possible policy changes because they are still speculative. Even after the election results are known, the committee may prefer to wait for clearer policy changes before reconsidering its economic outlook and interest rate plans. The Fed is expected to have no major changes to its policy statement today and will cut interest rates by 25 basis points in December and 100 basis points to 3.25-3.50% in the first half of 2025, but the pace and end point of rate cuts next year are uncertain. (Jinshi)