News article in McDonald’s website confirms that after more than 30 years of operations in the country, McDonald’s Corporation...


McDonald’s To Exit from Russia after 30 Years of Service in the Country

The dollar slipped against other major currencies for a third straight day on Tuesday, tempering a long rally as investors cashed out and trimmed bets on U.S...

Stock Markets

Dollar Slipped against other Major Currencies as Focus turns to Growth

Asian shares rise on Tuesday, boosted by technology majors, as hopes expectation grow for an easing of China's regulatory crackdown on...

Stock Markets

Asian Shares Rise on High Expectation of Easing China Tech Crackdown

On Friday, Elon Musk revealed that his $44 billion takeover deal for Twitter Inc. has been put “temporarily on hold”, triggering a share plunge...

Stock Markets

Musk’s $44 Billion Twitter Acquisition Deal ‘on Hold’ Causing Shares to Plunge

His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and Ruler of Abu Dhabi, has passed away on Friday, May 13, aged 73...


RIP: UAE’s Sheikh Khalifa Bin Zayed Al Nahyan Passes Away

Stock Market

1 Nov 2021

Goldman Sachs Forecast for U.S Interest Rate Hike by a Year

Goldman Sachs Forecast for U.S Interest Rate Hike by a Year

The Index Today

Goldman Sachs has issued its forecast by a year for the post-pandemic interest rate projection in the U.S. The renowned investment bank has stated that inflation will remain at higher levels to July 2022.
Goldman Sach’s chief economist, Jan Hatzius wrote, “The main reason for the change in our liftoff call is that we now expect core PCE inflation to remain above 3% and core CPI inflation above 4% when the taper concludes.”
He further said, “Large surprises on the virus, inflation, wage growth, or inflation expectations could prompt a revision, but we think the hurdle for a change in either direction is high.”
Policymakers in the Federal Reserve are expecting to indicate regarding asset tapering and bring forward plans for the process to wind down $120 billion in monthly purchases on treasuries and mortgage-backed securities. The meeting is schedule for the Wednesday this week.

©Photo: Peter Foley | Bloomberg | Getty Images