Goldman Sachs cuts US economic forecast, citing 20% recession risk
This article is machine translated
Show original
Odaily reports that due to concerns that US President Trump's trade war will lead to a global economic recession, the US economic growth forecast has been significantly downgraded. Goldman Sachs said that due to Trump's large-scale global tariffs, the US economy's growth rate this year is expected to be only 1.7%, lower than the previous 1.7% forecast. Goldman Sachs' downgrade reflects Wall Street's growing concerns about the Trump administration, and after Trump refused to rule out the possibility of a US economic recession, US stocks plummeted on Monday, with the Nasdaq index, dominated by tech stocks, falling as much as 3.9%, and the S&P 500 index falling 1.5%. Goldman Sachs predicts that the US currently faces a 20% recession risk, and economists believe that once the prospect of an economic threat becomes clear, Trump will downplay tariffs.
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share