Goldman Sachs cuts growth forecast as trade war triggers recession fears

Goldman Sachs lowered its fourth-quarter growth forecast by 20 basis points to 1.8%, citing a larger than-expected impact of recent trade war events.

“The drivers of this modest change are that we now include an estimate of the sentiment and uncertainty effects and that financial markets have responded notably to recent trade news,” said Goldman Sachs chief U.S. economist Jan Hatzius in a note to clients Sunday.

Goldman Sachs said it expects the new round of tariffs to go through in September and it no longer expects a trade deal before the 2020 election.
https://www.cnbc.com/2019/08/11/gold...ion-fears.html