The following is an excerpt Brendan Murray | November 18, 2017 | Bloomberg.com |
The U.S. economy is heading into 2018 with strong momentum that’s likely to boost wages and inflation more broadly, requiring the Federal Reserve to raise interest rates four times next year, Goldman Sachs Group Inc. economists said in a research note.
The New York-based investment banking and securities firm raised its growth outlook for 2018 to 2.5 percent and lowered its forecast for unemployment to 3.7 percent by the end of 2018, said Goldman chief economist Jan Hatzius, a co-author of the note, which was released by email late Friday.
Before the latest revision the most recent Goldman Sachs forecast for 2018 growth was 2.4 percent, according to forecasts compiled by Bloomberg.
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