Raised from 6.4% to 6.6%
Unemployment rate lowered from 4.8% to 4.5%
[Asia Economy Reporter Kwon Jae-hee] Global investment bank Goldman Sachs has revised upward its forecast for the U.S. economic growth rate.
This is interpreted as reflecting expectations for President-elect Joe Biden's large-scale economic stimulus plan.
According to Bloomberg on the 18th, Goldman Sachs economists led by Chief Economist Jan Hatzius raised their forecast for U.S. growth this year from the previous 6.4% to 6.6% in a report sent to investors.
The nominal disposable income growth rate of U.S. consumers this year was also raised from 3.8% to 4.5%.
On the other hand, the unemployment rate forecast for this year was lowered from 4.8% to 4.5%.
This optimism is attributed to the impact of the $1.9 trillion (approximately 2099 trillion won) stimulus package, including an additional $1,400 cash payment per person proposed by President-elect Biden on the 14th.
Goldman Sachs stated, "We have not changed our outlook on the Federal Reserve," adding, "We expect tapering (reduction of asset purchases) will not begin until 2022."
Meanwhile, Goldman Sachs projected U.S. GDP growth rates of 4.3% and 1.6% for 2022 and 2023, respectively.
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