Futures pricing in a 81% chance of a cut in July.
In a market which is pricing in a 81% chance of a cut in July (and chances of other cuts to the year end), Goldman is taking the view that there will be no cuts between now and the end of the year.
Although Fed officials are tilting more toward a cut now, the chatter is "still watching" with the finger on the trigger if deemed appropriate to ease (see Powells "Fed will 'act as appropriate' to sustain expansion").
