<p>A Goldman Sachs note from later Friday (info via Reuters) has analysts at the bank making more pessimistic forecasts ahead due to a more aggressive Federal Reserve tightening policy through the rest of this year:</p><ul><li>“higher rates path combined with recent tightening in financial conditions implies a somewhat worse outlook for growth and employment next year“</li></ul><p>Goldman Sachs have revised their projection for next week’s Federal Open Market Committee (FOMC) meeting. GS expects the FOMC to hike 75 basis points, up from 50 basis points previously.</p><ul><li>sees 50 bp hike in November</li><li>sees 50 bp hike in December</li><li>sees the fed funds rate peaking at 4-4.25% by the end of 2022</li></ul><p>-</p><p>Economic forecasts:</p><ul><li>sees GDP growth of 1.1% in 2023 (down from its preivous tip of 1.5% growth from the fourth quarter of 2022 to the end of 2023).</li><li>unemployment rate at 3.7% by the end of 2022 (from prior call of 3.6%), to 4.1% by the end of 2023 (from 3.8%)</li></ul><p>Sep, Nov, & Dec dates below:</p>

This article was written by Eamonn Sheridan at forexlive.com.