(RightWing.org) – Financial services company Goldman Sachs has come out with its annual list of predictions for the next year. Twelve months ago, they said there would be high economic growth and no new federal stimulus spending; COVID-19 disagreed. Will next year go the way Goldman Sachs thinks it will? Here are their latest predictions:
- With a vaccine approved and others almost ready, the US should be fully vaccinated in the first half of 2021. That will spur a V-shaped economic recovery, with growth of 5.3% to compensate for this year’s 3.9% loss.
- They also think the year will have a rocky start, though – we’re not quite at the bottom of the V yet.
- The Federal Reserve won’t raise interest rates, helping to drive spending and boost businesses.
Low recession risk, faster growth, and employment at a 70-year high — here are Goldman Sachs' predictions for the US economy in 2020 https://t.co/w5VG3RzJzQ
— Business Insider (@businessinsider) November 28, 2019
- The Republicans will hang on to their Senate majority, preventing Biden from carrying out his most radical ambitions if he proves to be the winner — the election is far from decided.
- The US dollar will fall against the other major global currencies, losing around 6% of its value – and making US exports more competitive. That’s good news for American factory workers.
- Unemployment in the US will hit a 70-year low.
So, is Goldman Sachs right this time, or will fate throw another monkey wrench into the works? Only time will tell.
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