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Goldman Sachs delivers blunt message on interest rate hike

Goldman Sachs is pushing back on one of the most significant shifts in market pricing this year. The bank says investors are overestimating the likelihood that the Federal Reserve will raise interest rates in response to the current oil price surge. Surging energy prices and mounting stagflation fears have rattled global markets in recent weeks. At one point, futures markets implied a greater-than-even chance that the Fed would hike by year-end, according to CME Group's FedWatch tool. [...]