Goldman Sachs Morning Market Update: June 30, 2026 – Fed, FX, and Inflation Insights

Key Takeaways

• 1.Supreme Court denied stay of injunction against Fed Governor Lisa Cook's firing, supporting Fed independence but leaving merit case for District Court.
• 2.USD/JPY breached 162, with intervention risks rising but client conviction waning compared to prior weeks.
• 3.US inflation expected to improve in 2026H2; ECB September rate hike remains the baseline despite lower energy prices.

Table of Contents

• 1) US POLITICAL ECONOMICS (PHILLIPS) – Supreme Court Ruling Supports Fed Independence but Further Challenges Likely
• 2) USDJPY Update
• 3) ADAM CROOK – Connecting You to GS: Thoughts from The Floor
• 4) EU ECON (STEHN) – ECB: Hike or Hold ?

Report data

Intervention Day Ranges

Reports in this series

GS Morning Market Update is shown in chronological order through this edition, published on June 30, 2026.

Part of the GS Morning Market Update series — view all 11 editions

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