Now, Goldman expects 7 US Federal Reserve rate hikes in 2022

Goldman Sachs Group Inc. sees the Federal Reserve raising interest rates seven times this year to contain hotter-than-expected US inflation, rather than the five it had expected earlier.

The bank sees a 25 basis-point hike in each of the remaining meetings this year, economists led by Jan Hatzius wrote in a report to clients. The altered prediction follows US consumer prices posting the biggest jump since 1982 in January.

That view is also gaining currency among investors, who are pricing in a similar quantum and pace of hikes. Swaps linked to Fed meeting dates indicate investors expect the Fed’s main rate to