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« Precious metals entering, stocks and bonds exiting bull market | Main | Fed Wants To Bar Banks From Owning Physical Commodities, Equities »

Goldman slashes September rate-hike odds to 25% after Fed’s Brainard comments 

It’s the 3rd time this month investment bank changes September rate prediction

Goldman Sachs economists are losing confidence the Federal Reserve will raise interest rates next week, dramatically cutting their September rate-hike odds following a series of mixed messages from policy makers in recent days.

In a note out late Monday, the team led by Goldman’s GS, -2.37% chief economist Jan Hatzius slashed its forecast for a rate increase at the Sept. 20-21 meeting to a probability of 25% from 40% previously. It also lifted the odds for a December tightening to 40% from 30%.

“A series of speeches by Fed officials concluded [Monday] with remarks by Governor [Lael] Brainard. A common theme was the absence of a clear signal that the Federal Open Market Committee is likely to hike in September,” the economists said.

“The lack of a signal is meaningful because if action were likely, the committee would normally make an effort to nudge the market toward anticipating a hike,” they added.

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The USD is holding up and silver is a tad below $19.00/0z at the moment....

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