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%.
    • Sabin10@lemmy.world
      4·
      3 days ago

      Meanwhile, anyone with a halfway decent high-school education, knows this is what happens when you engage in a trade war with all your major trading partners.

    • CharlesDarwin@lemmy.worldEnglish
      3·
      3 days ago

      As does much of his cabinet, it seems. That, or if they know better, they are too afraid and power-seeking to counter even the very stupidest of his “ideas”.