Goldman Sachs warns: US inflation rate may reach nearly 4% before Christmas.

Goldman Sachs warns that Trump's global trade war could undo much of the progress made in the battle against inflation. The Wall Street bank told clients in a report on Wednesday that, due to the harmful combination of high tariffs and a weakening dollar, key inflation indicators are expected to skyrocket in the coming months. Goldman currently predicts that the core inflation rate will accelerate from 2.6% in March to 3.8% by December. This is based on the preferred PCE price index of the Federal Reserve.