Goldman Sachs made 10 predictions about the US economy in 2019 — these 3 were wrong
The bank's economists made correct calls on growth, recession, tariffs, unemployment, wages, the federal deficit, and broader monetary policy.View Business Insider's homepage for more storiesGoldman Sachs made 10 predictions about the US economy in 2019. Three of them turned out to be wrong.
The bank's chief economist, Jan Hatzius, and his team made correct calls on growth, recession, tariffs, unemployment, wages, the federal deficit, and broader monetary policy. However, their forecasts concerning inflation, interest rates, and money supply missed the mark, they said in a research note.1. Economic growth will slow to below 2% — correct
"Growth gradually decelerated through the year from 2½-3% in Q1 to 1½-2% more recently," Hatzius and his team said.While recession fears spiked several times,"the economic data remained consistent with moderate growth throughout the year," the economists said.The US and China engaged in several rounds of tit-for-tat tariffs this year.
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