(Bloomberg) -- Economists at Goldman Sachs Group Inc. are forecasting two Federal Reserve interest-rate cuts this year instead of three after Wednesday's report showing consumer prices rose more than estimated in March.
The economists, who previously expected cuts in June, September and December, now see them in July and November.
“We think the Committee will need to see the string of three firmer inflation prints from January to March balanced by a longer series of softer prints in subsequent months,” the economists led by Jan Hatzius wrote.
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