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Home Steel News Goldman Sachs: Global economy may be on brink of recession
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Goldman Sachs: Global economy may be on brink of recession

4 Mar 2020 16:16 reported by Elena

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Jan Hatzius, the chief economist at Goldman Sachs, said on Monday (March 2nd) that the coronavirus outbreak would most likely tip the global economy into recession.

Hatzius said the global economy could shrink by about a quarter but rebound before officially entering a recession. He also said there were downside risks that could tip the global economy into recession. The uncertainty has put pressure on the federal reserve and other global central banks to find ways to support the global economy.

President Donald Trump renewed his call on the same date for the Fed to cut interest rates. Goldman expected most major central banks to cut interest rates, and Hatzius said a coordinated effort could be the smartest approach for central banks to take.

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Metal Price Index

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