Goldman Sachs economists lowered their probability of a U.S. recession within the next 12 months to just 20%, citing better-than-expected economic data.
Wealth Enhancement Group senior vice president Nicole Webb discusses U.S. equity flows and overall markets on ‘Making Money.’ has a better chance of skirting a recession next year than previously believed, according to Goldman Sachs strategists.
"We are cutting our probability that a US recession will start in the next 12 months further from 25% to 20%," Hatzius wrote. "The main reason for our cut is that the recent data have reinforced our confidence that bringing inflation down to an acceptable level will not require a recession."The note comes less than one week after the government reported that the, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose just 0.
Despite the continued retreat in inflation, the Federal Reserve is widely expected to approve another quarter-percentage interest rate increase at the conclusion of its two-day meeting next week. However, Hatzius said he expects this will be the final increase in the Fed's tightening cycle amid fears that economic growth could slow drastically.
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