Top Economist Forecasts 25 Basis Point Cut In September, Expects Jerome Powell To Adopt A 'Dovish Tone' At Jackson Hole
Portfolio Pulse from Benzinga Neuro
David Mericle, chief U.S. economist at Goldman Sachs, predicts a 25 basis point rate cut in September and expects a dovish tone from Fed Chair Jerome Powell at the Jackson Hole Symposium. This has led to a decline in the U.S. dollar index, impacting the Invesco DB USD Index Bullish Fund ETF.
August 23, 2024 | 9:10 am
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POSITIVE IMPACT
Goldman Sachs' chief economist David Mericle's prediction of a 25 basis point rate cut and a dovish tone from Fed Chair Powell could influence investor sentiment towards financial stocks, including Goldman Sachs.
Goldman Sachs is directly involved as its chief economist provided the forecast. A dovish Fed stance and rate cut could boost financial markets, potentially benefiting Goldman Sachs' stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The expectation of a rate cut has led to a decline in the U.S. dollar index, negatively impacting the Invesco DB USD Index Bullish Fund ETF, which tracks the dollar's performance.
The ETF is directly affected by changes in the U.S. dollar index. Expectations of a rate cut have led to a weaker dollar, negatively impacting the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70