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Goldman Predicting U.S. Will ‘Narrowly’ Escape Recession, Even As Banks Tighten Lending

Goldman Sachs is pegging chances of the United States entering a recession in the next year at 35% and predicts interest rates will hold steady next year.

The UK and Europe are already in recession due to the hit to real incomes from surging energy bills, per the investment bank’s research report examining the macro outlook for 2023, but the downturn is expected to be mild.

In the U.S., Goldman said this cycle is different from any other — largely because the labor market is being driven by significant job openings as opposed to excessive employment. It also cites the normalization of the supply chain and rental housing, which it said is a unique source of disinflation not present in past cycles.


Photo by D koi on Unsplash

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