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Interest Rate Outlook

GOLDMAN SACHS GROUP INC · 2026-09-21 · Importance 17 · Surprise 24

The Federal Reserve reportedly raised interest rates by 25 basis points five days before the September 21 digest. Goldman Sachs analyst Stephen Biggar characterized Fed Chair Kevin Warsh's hawkish tone as signaling a potentially steeper rate-hiking cycle. The report nevertheless described Biggar as bullish on large banks, including Goldman Sachs, JPMorgan Chase, and Morgan Stanley.

Key facts

• Stephen Biggar lists Goldman Sachs (GS) as a stock pick following the Fed's decision to raise interest rates by 25 bps. source