Weekend - Goldman Sachs cut their US economic growth forecasts

Goldman Sachs economists

• now expect the economy to grow 2.4% in 2022 (from 2.6% previously forecast
• & 1.6% in 2023 (from 2.2% previously)

Also revised their jobless rate forecasts:

• 3.4% for 2022
• and to a high of 3.7% in 2023

Remarks from the reports:

• slowdown in growth should help lower job openings, it is also likely to raise the unemployment rate a bit, particularly since the job openings rate typically only falls when unemployment spikes in recessions
• optimistic that a sharp rise in the unemployment rate can be avoided

For the S&P500 GS (chief equity strategist) targets 4300.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term