Goldman Sachs cuts its quarterly forecast for US economic growth to 5.5%

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Goldman Sachs cut its forecast for US economic growth in the third quarter from 9% to 5.5%, amid fears of an increase in the infection rates of the Corona virus, along with rising inflation rates.

The gross domestic product in the United States grew by 6.6% on an annual basis in the second quarter of this year, according to the second reading of the US Department of Commerce.

In statements in front of Jackson Hole Conference At the end of the week, US Federal Reserve Chairman Jerome Powell said that the US economy is about to return to full employment soon despite the spread of the delta mutator, confirming recent expectations that the Fed may start reducing its bond-buying program this year.

On the other hand, Powell stressed that the Fed is in no hurry to raise the main interest rate, reiterating that the current inflation pressures remain temporary, warning that any policy change made at the wrong time could harm the economy in the current circumstances.





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