Goldman Sachs, JPMorgan Predict Fed Rate Hike This Week

Goldman Sachs, JPMorgan, HSBC, and Deutsche Bank now expect a quarter-point Federal Reserve interest rate hike this week, driven by stronger-than-expected inflation readings and rising oil prices. Market odds of a hike stood at 88% to 89%, compared to 67% to 70% before last week's inflation data. The four institutions see rates staying higher for longer as the Fed pursues its 2% inflation target.