More poor job data n unemployment rate more than 4.5% by August will push fed cut 1st rate aggressively
Goldman Economists Lift "Limited" US Recession Risk to 25%
LONDON - Goldman Sachs Group economists increased the probability of a recession in the United States in the next year to 25 per cent from 15 per cent but said there are several reasons not to fear a slump even after unemployment jumped.“We continue to see recession risk as limited,” the Goldman economists led by Jan Hatzius said on Aug 4.The economy continues to look “fine overall”, there are no major financial imbalances and the Federal Reserve has a lot of room to cut interest rates and can do so quickly if needed, they said.Last week ended with US jobs data showing that hiring had slowed markedly in July and unemployment had risen to the highest in almost three years, raising concerns of a slowdown and fears the Fed has waited too long to cut interest rates.Goldman Sachs to raise headcount in asset and wealth management as it expands in Asia
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