Goldman Sachs cuts US economic forecast, citing 20% recession risk

Odaily News U.S. economic growth forecasts have been slashed amid concerns that President Donald Trump’s trade war will tip the global economy into recession.
Goldman Sachs said the U.S. economy is expected to grow by just 1.7% this year, down from its previous forecast of 2.4%, as Trump has launched massive global tariffs. The downgrade by Goldman Sachs reflects Wall Street's growing concerns about the Trump administration, which sent U.S. stocks tumbling on Monday after Trump refused to rule out a U.S. recession. The tech-heavy Nasdaq fell as much as 3.9% and the S&P 500 fell 1.5%. Goldman Sachs predicts that the U.S. now faces a 20% risk of recession, and economists believe Trump will downplay tariffs once the prospect of an economic threat becomes clear.