According to PANews on May 5, Jin Shi pointed out that surveys of U.S. consumers and businesses show economic sentiment is tense, but fundamental data has not yet indicated a severe economic slowdown. Goldman Sachs economists stated that the Federal Reserve is unlikely to ease policy based solely on "soft data," especially since soft data has recently mispredicted recessions, such as during the Fed's inflation fight in 2022. The Goldman Sachs team said the Fed also wants to see evidence from the labor market and other hard data before considering rate cuts. Like other Wall Street institutions, Goldman Sachs expects the Fed to keep interest rates unchanged in Wednesday's rate decision.

PANews reported on May 5 that according to Jinshi, US consumer and business surveys show an anxious economic sentiment, but the underlying data has not yet shown a serious economic slowdown. Goldman Sachs economists wrote that the Federal Reserve is unlikely to ease policy based on "soft data" alone, especially because soft data has wrongly predicted an impending recession in the recent past, such as during the Fed's fight against inflation in 2022. The Goldman Sachs team wrote that the Fed "also wants to see evidence from the labor market and other hard data before cutting interest rates." The investment bank, like other Wall Street institutions, believes that the Federal Reserve will keep interest rates unchanged in its interest rate decision on Wednesday.

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