Goldman Sachs Group Inc. (GS) is among major banks cutting their forecasts for third-quarter U.S. growth as business inventories swell and consumer confidence declines. Goldman Sachs, JPMorgan Chase & Co. (JPM) and Bank of America- Merrill Lynch said the economy will expand at a 2.5 percent pace, down from earlier projections of as much as 3.25 percent. A more-muted rebound from a slow first half would keep pressure on the Federal Reserve to hold interest rates near zero, according to the banks’ economists. “The soft patch is giving way to a spongy patch,” said Michael Feroli, chief U.S. economist at JPMorgan in New ... (full story)