This is the worse bacwardation we had since 2007….Goldman Sachs: “Inflation will be worse than feared this year”

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Goldman Sachs: “Inflation will be worse than feared this year”

Red-hot inflation in the United States may not cool off this year as much as many hoped, Goldman Sachs cautioned in a new report.

“The inflation picture has worsened this winter as we expected, and how much it will improve later this year is now in question,” Goldman Sachs economists wrote in a client report Sunday night.

Given that uncertainty, Goldman Sachs is raising its inflation outlook. It expects that core PCE inflation, the Federal Reserve’s preferred price metric, will decelerate to 3.7% at the end of this year.

 

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