Mubasher: Goldman Sachs expects more increases in interest rates than expected by the end of 2019.

The bank’s economists said on Thursday in a note to clients that it remains comfortable with calls for five interest hikes, as cited by Reuters.

Goldman believes the Federal Reserve needs to generate a significant tightening in financial conditions to slow the economy to its potential growth pace sooner rather than later, noting that this will require delivering significantly more hikes than priced in the curve.