Goldman Sachs’ chief economist just downgraded the entire U.S. economy as Trump’s latest tariff salvo rattles markets
Goldman Sachs’ chief economist just downgraded the entire U.S. economy as Trump’s latest tariff salvo rattles markets
The storied investment bank has forecast GDP growth to come in below Wall Street’s consensus for the first time in 2½ years.
I'm surprised no one has been mentioning the federal cuts and layoffs as a point of concern for the economic forecast.
Obviously the tarrifs are really bad, but stopping payments to a large number of organizations and laying off a lot of people is also probably going to have significant impacts too.
It's not at the same scale, that's why it also doesn't actually make a difference in "saving money"
I actually think the impacts to the federal government will have farther reaching and longer lasting impacts than the tariffs.
I know a lot of people in that space and what's going on is somewhat terrifying.