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Bank of America moved its forecast for the Fed's two remaining rate increases to December 2026 and March 2027. That leaves it expecting more tightening than Goldman Sachs and Citi, which each forecast one further increase in December.
Expectations of more Fed tightening support the dollar and raise borrowing costs, which can weigh on commodity prices.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.