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Goldman Sachs Research now expects the Federal Reserve to cut interest rates in June 2027 and December 2027, delaying its prior forecast. According to NS3.AI, the bank previously projected rate cuts in December 2026 and March 2027. Goldman Sachs Research also expects the unemployment rate to reach approximately 4.4% by the end of the year.

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Goldman Sachs Research Pushes Back Expected Fed Rate Cuts to June and December 2027

President Trump has spent a considerable amount of time calling on the Fed to cut interest rates. This week, he contradicted himself on the same day the Senate Banking Committee met.

Trump reverses course on interest rates while backing Warsh — after months of demanding cuts, he now says raising them is effective

Markets fully price in a European Central Bank rate hike, with traders expecting three increases. However, Berneberg's Holger Schmieding calls this a 'mistake in the making' due to eurozone economic contraction and falling confidence. While some analysts argue hikes are necessary to combat inflation, others warn against overpricing tightening measures that could exacerbate supply shocks from geopolitical conflicts.

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Markets are pricing in a rate hike by the European Central Bank - which one top economist sees as a 'mistake in the making'

The U.S. producer price index (PPI) annual rate came in at 6.5% in May. According to Jin10, the market consensus estimate was 6.4%, and the prior reading was revised to 5.7% from 6.00%.

U.S. May PPI Annual Rate Rises to 6.5%

U.S. May CPI rose 4.2% YoY, the highest in over three years, driven by energy shocks from the Strait of Hormuz. Despite hotter inflation, economists expect the Fed to hold rates at its June 17 meeting, with a more hawkish Dot Plot anticipated. Market pricing reflects a near-certain hold, while core inflation remains below 3%. Analysts view the data as insufficient for a hike but too hot for cuts, with future rate expectations dependent on the duration of geopolitical disruptions.

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Hottest Inflation In Over 3 Years: Is The Fed Ready To Hike Interest Rates?

Economist Justin Wolfers warns of a 2026 affordability crisis as real wages fall for six months due to supply shocks from war and tariffs. Inflation outpaces paychecks, eroding purchasing power. Other experts confirm rising core inflation and energy costs. Consequently, the Federal Reserve may raise rates rather than cut them, impacting monetary policy expectations despite recent stock market gains.

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Justin Wolfers Warns Of 'Affordability Crisis' As Real Wages Fall For Sixth Straight Month

With inflation hitting a three-year high and job growth exceeding expectations, immediate rate cuts are unlikely, complicating policy decisions ahead of Warsh's first Fed meeting on June 16-17. Markets anticipate potential shifts in communication tools, such as scrapping the 'dot plot' or adopting new inflation gauges, which could increase volatility and reshape monetary policy guidance for 2026.

Warsh faces rate dilemma as inflation hits 3-year high

Bond traders maintained bets that the Federal Reserve will raise interest rates by the end of the year. Even after a soft US core inflation reading, according to Bloomberg, pressure eased on Chairman Kevin Warsh to act sooner.

Bond Traders Keep Bets on Fed Rate Hike by Year-End After Soft Core Inflation

Bank of Canada Governor Tiff Macklem said that the longer a war drags on, the higher the risk of broad-based inflation. According to Jin10, Macklem linked the duration of the conflict to rising inflation risks across the economy.

Bank of Canada Governor Says Prolonged War Raises Risk of Broad-Based Inflation

The article warns that the next financial crisis may originate in advanced economies' sovereign debt, shifting from the historical pattern of emerging market crises. With public debt at historic highs and deficits elevated in developed nations, sovereign bond markets are increasingly sensitive to inflation, interest rates, and investor confidence, posing new systemic risks.

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The next financial crisis could start with advanced economies’ sovereign debt

The US 30-year Treasury yield climbed to its highest since 2007, reigniting higher-for-longer anxiety and pressuring rate-sensitive equities globally; gold ETFs fell over 1.6% as the spike in real yields reduced bullion's appeal.The continuous decline in 30-year US Treasury bond prices indicates that capital is flowing back to the main market. This should be good news, right?

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Gold prices have dropped 13% month-to-date to $4,580/oz, marking the worst monthly performance against Brent crude since December 1973, with the gold-to-Brent ratio crashing 43%. Mining stocks have fallen 29% in 19 days due to the ongoing war in Iran, leading to the worst month for the sector since October 2008. Rising oil prices and inflation fears are impacting gold's status as a safe-haven asset, while mining margins are squeezed by increased energy costs. The VanEck Gold Miners ETF has seen a significant decline, reflecting the turmoil in the commodity markets.

Gold Eyes Worst Month Against Oil Since 1973; Mining Stocks Slump Most Since 2008

Direxion Daily Gold Miners Bear 2X(DUST.US)

Goldman Sachs Research Pushes Back Expected Fed Rate Cuts to June and December 2027

Trump reverses course on interest rates while backing Warsh — after months of demanding cuts, he now says raising them is effective

Markets are pricing in a rate hike by the European Central Bank - which one top economist sees as a 'mistake in the making'

U.S. May PPI Annual Rate Rises to 6.5%

Hottest Inflation In Over 3 Years: Is The Fed Ready To Hike Interest Rates?