Goldman Sachs and J.P. Morgan Chase have switched to expecting the Federal Reserve to raise interest rates by 25 basis points at the September meeting after higher than expected inflation in August and another surge in oil prices. Market pricing shows a probability of an interest rate hike of around 87%. J.P. Morgan also expects another round of interest rate hikes in December.

Goldman Sachs and J.P. Morgan Chase have switched to expecting the Federal Reserve to raise interest rates by 25 basis points at the September meeting after higher than expected inflation in August and another surge in oil prices. Market pricing shows a probability of an interest rate hike of around 87%. J.P. Morgan also expects another round of interest rate hikes in December.