According to Odaily Planet Daily, David Mericle, chief U.S. economist at Goldman Sachs, said that the FOMC is expected to revise its statement at the July meeting, suggesting that it is closer to a rate cut. The FOMC only needs to slightly increase its confidence in the inflation outlook to cut interest rates.

Goldman's revision to its July rate cut forecast supports its view of a rate cut in a few months, with the first cut expected in September, followed by quarterly cuts thereafter.