Goldman: "Inflation Will Get Worse"

(Axios) - "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."

• Goldman sees the unemployment rate — 4.6% in October — falling to "3.7% at mid-year and 3.5% — the pre-pandemic 50-year low — by end-2022."

Graphic: Goldman Sachs Global Investment Research