High rates will shave 0.5% from US GDP, prompt job losses: Goldman Sachs

10-10-2023 Business NY Post - Business 37

Higher-for-longer interest rates will likely shave 0.5% from U.S. economic growth and may force unprofitable public companies to begin cutting their workforce, strategists at Goldman Sachs wrote in a note on Sunday. Short-term bonds have hovered near 17-year highs as U.S. jobs growth continues to suggest strength in the economy. The resilience of the labor...

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