ECONOMISTS at Goldman Sachs revised their forecast, stating that the U.S. will likely enter into a recession in the next 12 months from 15 percent to 25 percent.
The revised forecast came following a recent report demonstrating signs of weakness in the job market.
The 10-percentage-point hike is higher than their previous forecast.
The U.S. economy seems to be “fine overall,” with no major financial imbalances, as also said in the report.
The report also said the federal reserve has enough room for rate cuts, adding the central bank would take quick action when necessary.
