The Holiday Season is Upon us epitomized by the lighting of the National Christmas Tree last week in Washington. As we welcome the Holiday Season here in our properties, we begin to wind down the Year as we present views courtesy of the team at Goldman Sachs as we look to a very challenging 2019:
2019 US Economic Outlook: The Home Stretch
US economic growth will slow significantly in 2019 due to tighter financial conditions and a fading fiscal stimulus, according to Goldman Sachs Research. The forecast also calls for quarterly rate hikes as the Fed looks to keep the economy from overheating amid rising inflation and unemployment on a downward trajectory towards 3% by early 2020. For now, neither overheating nor financial imbalances -- the classic causes of recessions -- appear worrisome. As a result, the economic expansion remains on track to become the longest in US history in 2019.