-- The Federal Reserve will only start cutting interest rates in September, according to economists at Goldman Sachs Group Inc., who pushed back their call from July amid signs the economy is still too resilient to justify easing.“Earlier this week, we noted that comments from Fed officials suggested that a July cut would likely require not just better inflation numbers but also meaningful signs of softness in the activity or labor market data,” economists including Jan Hatzius wrote in a note.
Reports on durable goods orders and the University of Michigan consumer sentiment gauge, both due later Friday, will give investors an added insight into the state of the economy. Any signs that economic activity is holding up could dash hopes of a swift easing cycle further.
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