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%.
      • D_C@lemm.ee
        6·
        22 hours ago

        You are both correct.
        tRUMP is clearly, clearly an idiot. However his glorious leader, putin, must be considered brilliant to do what he’s done.
        He’s completely evil, etc, but he can die happy knowing of the damage he’s done to the USA (and other countries) will be felt for decades.

        I hate them both with a passion, but you’ve got to give credit where it is due.

        (He’s also damaged Russia for decades to come)