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Goldman Sachs: Fed Meeting May See Biggest Policy Surprise in Nearly 30 Years

On July 29, "Fed whisperer" Nick Timiraos said that Goldman Sachs noted that since the interest rate futures market currently prices in a one-third probability of a rate hike by the Fed today, whatever the Fed ultimately decides will be the biggest "surprise" at a non-rate-cut meeting since 1997. If the Fed raises rates, it would be "the biggest meeting-day surprise, excluding rate cuts, since the Fed began issuing statements announcing policy rate changes."

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