Goldman Sachs sees Trump tariffs spiking inflation, stunting growth and raising recession risks
Goldman Sachs sees Trump tariffs spiking inflation, stunting growth and raising recession risks
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Goldman Sachs sees Trump tariffs spiking inflation, stunting growth and raising recession risks
A broad, negative impact will be felt in the economy when the new trade moves are enacted, the Goldman economic team believes.
KEY POINTS
- Goldman Sachs expects aggressive duties from the White House to raise inflation and unemployment and drag economic growth to a near-standstill.
- In a note Sunday, the firm said “we continue to believe the risk from April 2 tariffs is greater than many market participants have previously assumed.”
- The firm raised its forecast for inflation this year to 3.5%, cut its GDP outlook to just 1% and raised its unemployment view to 4.5%.