Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl

Kintania and Mike Santoli. We are live at post nine of the New York Stock Exchange.

David Faber's off today. Coming up this hour, we are all over the fast-moving developments in the

Middle East and the impact on global markets,

as Iran warns about $200 a barrel oil. Formerer Israel ambassador to the U.S., Michael Oren,

will be with us to discuss what the endgame could look like here. Plus, even more concerns

creeping up around the private credit market, as Morgan Stanley now limits redemptions at one of

its funds, we'll talk about the potential

contagion effects for the broader market.

But guys, with the rise in oil prices, we are starting to get some new economic forecasts,

right, for how this is going to impact the consumer, higher gas prices, higher oil prices,

higher inflation prices, inflation, that is, Goldman Sachs put out

their note from the economists today.

And they actually put some numbers on these new forecasts.

So I just wanted to highlight it because, you know, this is what Wall Street is dealing

with.

They raise their PCE inflation forecast by 0.8 points to 2.9%.

This is for the fourth quarter.

For December, sorry, December, yep.

They raised their core PCE forecast, 0.2% to 2.4%.

And then on Q4 GDP growth forecast, they lowered it by 0.3 to 2.2%. So, you know, we're still looking at

decent growth of 2%, but it's come down because of what's happening at the war. The peak

...