Goldman Sachs: The Federal Reserve is unlikely to cut interest rates due to weak "soft data."

ChainCatcher news, according to Jinshi reports, U.S. consumer and business surveys show an anxious economic sentiment, but the underlying data has not indicated a severe economic slowdown. Goldman Sachs economists wrote that the Federal Reserve is unlikely to ease policy based solely on "soft data," especially since in the recent past, soft data has incorrectly predicted an impending recession, such as during the Fed's fight against inflation in 2022.

Goldman Sachs' team wrote that the Fed "also wants to see evidence from the labor market and other hard data before cutting rates." This investment bank, like other Wall Street institutions, believes that the Fed will keep interest rates unchanged in Wednesday's rate decision.