Goldman Sachs withdraws prediction of June Fed rate hike

Goldman Sachs economists no longer expect the US Federal Reserve to raise interest rates in June, following data that showed consumer prices cooled faster than expected in March. The bank had previously expected consecutive rate hikes at the Fed's May and June meetings, but now expects a rate hike in May only. The latest inflation data matched Goldman's expectations, and its new forecast for no rate hike in June was driven by hints that banks are reining in lending following the recent collapse of Silicon Valley Bank.