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Goldman Sachs Predicts Rate Hike In 2015 Amid Lower Unemployment

The U.S. added 288,000 jobs in June. The number was better than expected, prompting Goldman Sachs to project a sooner than anticipated interest rate hike -- possibly as early as summer 2015. Most have assumed the first rate hike wouldn't hit until 2016. Federal Reserve officials repeatedly said they will make sure the rates stay near zero until, first and foremost, there is substantial improvement in the country's employment situation. Goldman Sachs Chief Economist Jan Hatzius said the tipping point is near. He said, "The acceleration is most visible in the labor market. The inflation numbers have also surprised on the upside over the past few months." Yield on U.S. treasury rose across the board in the past few days. 5-year yield reached the highest level since April and the 10-year yield rose above 2.60.