ofA Global Research and Goldman Sachs are the latest brokerages to revise their U.S. Federal Reserve rate calls to later dates, citing elevated inflation due to high energy prices and growing strength in the labor market. BofA Global Research now expects the Fed to remain on hold for the rest of this year, with two 25bp cuts in July and September 2027, while Goldman Sachs sees cuts in December 2026 and March 2027 compared to its earlier forecast of a first rate cut in September 2026