Goldman Sachs Senior Investment Strategist Abby Joseph Cohen told CNBC Wednesday that she sees U.S. interest rates climbing, though not necessarily in the short term.
"In our intermediate to our long-term work on the stock market, we are assuming that interest rates will be moving higher, not necessarily right away," Cohen said. "This is a Fed that is not anxious to lower interest rates again aggressively any time soon."
Cohen also said that Goldman Sachs expects sluggish economic growth and corporate profits.
"We think that this is a stock market that will spend most of its time, as it has in recent weeks, between 1300 and 1400 on the S&P 500, but as we move out in the next few months, fair value is probably closer to 1500 on the S&P 500," she said.