Inflation running hotter for longer and further labor market tightening will force the Federal Reserve to boost interest rates four times rather than three in 2022, according to a new Goldman Sachs forecast. Jan Hatzius, chief economist at Goldman, wrote in a note on Jan. 9 that the investment bank is predicting a fourth 25-basis-point rate increase in December, up from an earlier projection of three. The move would put the target federal funds into a range between 1.0 and 0.25 percent by the end of the year. Currently, the benchmark interest rate sits at between zero and 0.25 percent. Hatzius wrote that hawkish signals from the recently released minutes from the Fed’s December policy meeting (pdf), along with sticky inflation and continued recovery in the labor market, suggest a faster path for monetary policy tightening. The Fed meeting minutes show that members of the Federal Open Market Committee (FOMC) …