[Goldman Sachs expects the Federal Reserve to raise interest rates for the third time in March next year, but the rate cut forecast will be postponed by one quarter] On November 11, Goldman Sachs said that the U.S. CPI in October was unexpectedly significantly higher than expected. David Mericle, the company's chief U.S. economist, wrote in a report that the Fed is still expected to raise interest rates for the second time in December by 25 basis points, and has added a third rate increase of 25 basis points in March 2027 to the forecast. The third interest rate increase may also be brought forward to January, but the possibility of March is slightly higher because the inflation data in November and December are expected to be relatively mild. However, as cost pressure continues, a larger price increase at the beginning of the year is expected to push up inflation in January.