Goldman Sachs says 35% chance of a recession in the next year
Goldman Sachs told clients Monday that it estimates there is a 35% chance of a recession in the next 12 months.
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Goldman Sachs has lowered the chance of a U.S. recession after the U.S. and China agreed to drastically roll back tariffs.
Goldman Sachs told clients Monday that it estimates there is a 35% chance of a recession in the next 12 months.
The markets reacted Monday. The Dow was up 1,000 points.
The Wall Street bank previously had the odds of a recession at 45%.
Goldman Sachs also increased its yearly GDP forecast to 1%.
It previously had annual growth forecast at half a percent.
The bank is also projecting that unemployment will rise to 4.5% in December.
That is down slightly from its previous projection of 4.7%.
Goldman Sachs also said it expects the federal reserve will start cutting interest rates starting in December.
It previously expected rate cuts in July.
