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%.
  • circuitfarmer@lemmy.world
    4·
    2 days ago

    When the rich people are now questioning the other rich people, you know shit isn’t exactly going to plan.

    At least not the plan some of the rich thought they were getting. They forgot to factor in the incompetence.