Goldman Sachs expects inflation to get worse over the winter.
Goldman Sachs believes inflation has not yet peaked. Axios reports:
“The current inflation surge will get worse this winter before it gets better,” Goldman Sachs Global Investment Research warns clients in a “2022 U.S. Economic Outlook.”
Driving the news: But Goldman expects the economy “to reaccelerate to a 4%+ growth pace over the next few quarters as the service sector continues to reopen, consumers spend part of their pent-up savings, and inventory restocking gets underway.”
Notably, Goldman Sachs data starts with an inflation measurement that is one third lower than the reported inflation rate.
CNBC’s Jim Cramer believes inflation is much worse than being reported.
Any American who has driven through a drive-through restaurant since Joe Biden took over knows inflation is worse than reported. Food at restaurants appears to be twice as costly as it was a year ago.
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