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Goldman Sachs Sees Fed Hiking More Times in 2023 Amid Inflation

Goldman Sachs Group Inc. has lifted its U.S. inflation forecast and now sees the Federal Reserve lifting rates more than expected in 2023.

The U.S. bank now forecasts the Fed’s preferred inflation measure to reach 3.7% by the end of 2022 compared with its previous forecast of 3.1%, economists led by Jan Hatzius wrote in a report to clients. They then see price growth slowing to 2.4% by the end of 2023 compared with an earlier view of 2.2%.