The investment bank still sees just a 35% chance that the $26.5 trillion U.S. economy enters a contraction over the course of the next year.
Goldman Sachs is holding strong on its no-recession call, insisting that the economy is resilient enough to withstand a prolonged period of high interest rates and persistent troubles in the nation's banking industry. The firm still sees just a 35% chance that the $26.5 trillion U.S. economy enters a contraction over the course of the next year.
The road to no recession But Hatzius said policymakers may yet be able to achieve their soft landing. "At least so far, our read is that Fed officials have managed to put the economy on a course of gradual wage and price disinflation without the recession predicted by a large majority of economists," he wrote. The data lately has been mixed, with the labor market holding strong despite Fed policy tightening. Job openings , however, have fallen by nearly 2.
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