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mmayr

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mmayr

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Wednesday, 08/18/2021 11:11:22 PM

Wednesday, August 18, 2021 11:11:22 PM

Post# of 40623
Here Comes Stagflation: Goldman Slashes GDP Estimate For Second Time In 3 Weeks, Sees "Bigger Inflation Surge"

It was good while it lasted, but the party is well and truly ending.

Just three weeks ago, Goldman Sachs - which last year was the first bank to unveil materially above consensus GDP projections - cut its 2021 second half consumption growth forecast, resulting in 1% downgrade to its GDP growth forecasts for Q3 and Q4 to +8.5% and +5.0%, respectively, "as it is becoming apparent that the service sector recovery in the US is unlikely to be as robust" as the bank had expected. Which is odd considering the trillions in monetary and fiscal stimulus that have entered into the economy. One wonder how many more trillions would be needed for Goldman to be happy.

Source: https://www.zerohedge.com/markets/here-comes-stagflation-goldman-slashes-gdp-estimate-second-time-3-weeks-sees-bigger

Economics by Following the Money ~ Globally & Nationally on Twitter @Conan644

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