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Investing.com – Watch the talk live:
Follow the live updates of the most important statements of the Federal President:
- We could slow the rate hike in December
- Inflation is still very high
- Household services inflation could decrease in 2023.
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Goldman Sachs (NYSE:) has released its forecast for the upcoming Federal Reserve speech.
The key issue for Jerome will be the Fed’s accommodative policy after the October inflation report came in lower than expected.
Powell’s expectations are that the Monetary Policy Committee will have to raise interest rates to their highest, and higher than expected, peak at their December meeting.
Goldman economists point out that the Fed’s comments will be similar to comments from other FOMC members.
And Powell will point out that inflation is still very high and the job market is still very strong.
As a result, Goldman Sachs believes Jerome Powell will hint at a slower rate hike on Dec. 14.
Monitor the markets before the Fed
It is edging up slightly after falling this morning, posting levels of 106,830, but is still heading for the biggest monthly loss in 10 years.
It trimmed its gains, posting $1,767.55 an ounce for gold, up 1.09% in futures contracts, while the spot contract fell 0.19%, to a price of $1,753. 14 an ounce.
While oil prices are rising sharply on inventories data and waiting for OPEC+ to cut production at next Sunday’s meeting. And it records 86.84 dollars a barrel, up 3.07%, while WTI records an increase of 2.95%, to 80.52 dollars a barrel.
It decreased by 0.47%, to reach the level of 33,692.82, down 159.71 points.
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Market Watch After Federal Reserve Chairman Speech:
- The US market is up, the Nasdaq is up 0.7% and the Dow Jones is cutting losses.
- Dollar index erased gains and fell 0.25%
- Gold futures contracts are soaring
