The report previews the U.S. economic calendar for May 18-24, 2024, highlighting the Philadelphia Fed manufacturing index and several FOMC member speeches. Goldman Sachs has notably pushed its expected timeline for Fed rate cuts back to December 2026.
Key Takeaways
- 1.Goldman Sachs has delayed its forecast for the first Fed rate cut to December 2026 due to persistent inflation linked to energy costs.
- 2.The Philadelphia Fed manufacturing index is the most critical data release of the upcoming week.
- 3.Fed officials are signaling a 'wait and see' approach as they monitor inflation risks from the Iran war.
Table of Contents
- Monday, May 18
- Tuesday, May 19
- Wednesday, May 20
- FOMC meeting minutes, April 28-29 meeting
- Thursday, May 21
- Friday, May 22
- Latest GS Tracking Tools
- Disclosure Appendix
- Reg AC
- Disclosures
- Global product; distributing entities
- General disclosures
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Authors
Jan HatziusAlec PhillipsDavid Mericle
Securities
Federal Funds Rate
Themes
Monetary Policy DelaysGeopolitical Inflation Shocks
Regions
North AmericaUnited States