Goldman Sachs Group Inc. (NYSE: GS) top economist thinks that the economic outlook for the United States ranges from “fairly bad” to “very bad” and says that policy makers need to act to help ensure a better environment for growth.
Goldman Sachs Group Inc. (NYSE: GS) economist Jan Hatzius said that in the most positive situation, growth will move ahead at a rate of 1.5% to 2.0% with unemployment ratings rising to 10%, saying that the economy could tip back into a recession in a research note published on Wednesday.
“There is not much probability of a significantly better outcome” as a result of the declining availability of stimulus funds, adding “between the two scenarios, the fairly bad one–slow growth, rising unemployment, but no outright recession–has significantly higher probability.”
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a global investment banking, securities and investment management company. The Company provides a range of financial services to customers, including corporations, financial institutions, governments and high-net-worth individuals. Its depository institution subsidiary, Goldman Sachs Bank USA (GS Bank USA), is a New York State-chartered bank. It operates in three segments: Investment Banking, Trading and Principal Investments and Asset Management and Securities Services. In March 2010, the Company’s subsidiaries sold the La Francia mine and related infrastructure assets, including Concession 5160, and Adromi Capital Corp., the holder of the La Francia II concession, to a subsidiary of The Goldman Sachs Group, Inc. In May 2010, Nexen Inc. sold its natural gas trading operations to a unit of The Goldman Sachs Group, Inc.
Shares of Goldman Sachs Group Inc. (NYSE: GS) traded up 0.85% during mid-day trading on Wednesday.
