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Goldman raises forecast for 2023 Fed rate peak by 25 basis points

FILE PHOTO: Federal Reserve Board Building in Washington

(Reuters) - Goldman Sachs on Wednesday raised its forecast for the peak in the federal funds rate by 25 basis points to 5-5.25%, after adding one more quarter-point Federal Reserve hike in May 2023 to its outlook.

The bank said in a research note that it now sees the Fed hiking by 50 bp in December and 25 bp in February, March and May.

(Compiled by the Global Finance & Markets Breaking News team)

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