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erienewsnow.com 10 Jan, 2022 19:00 am

Goldman Sachs has a new prediction that could affect your wallet - Erie News Now

Goldman Sachs has a new prediction that could affect your wallet - Erie News Now
By Matt Egan, CNN Business

Rate hikes from the Fed will raise the cost of borrowing, on everything from mortgages and car loans to credit cards.The new forecast represents an increase from Goldman's previous call for three rate hikes in 2022.Investors have priced in an 81% chance of at least three interest rate hikes in 2022, according to the CMEGroup's FedWatch tool.And there is now a 53% chance of four or more rate hikes, compared with about 30% a month ago.

Federal Reserve Chairman Jerome Powell will face questions from lawmakers on interest rate hikes and inflation, among other topics, during his Tuesday confirmation hearing.By Matt Egan, CNN Business The Federal Reserve is likely to raise interest rates four times this year in response to high inflation and low unemployment, Goldman Sachs advised clients on Sunday evening.

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