Goldman: “The Improvement In Global Growth Has Run Its Course”
by Tyler Durden
ZeroHedge.com
Feb 13, 2017
In less than 10 calendar days Goldman Sachs, the bank which has surrounded Donald Trump with its alumni as economic, financial (and political) advisors, has gone for the trifecta, slamming the prospects of Trump’s economic policies three times after initially being surprisingly optimistic on the monetary-to-fiscal handoff, and after first warning that the honeymoon is over on February 4, then this past Friday explaining why Trump’s policies will be quickly bogged down in Congress, this morning in a note in by Jan Hatzius, the Goldman economist says “the more negative aspects of the Trump agenda—trade and immigration—are coming into clearer view” leading the bank to trump its forecast on global growth, and concluding that “the improvement in global growth has probably run its course.”
Looking at the markets, Goldman observes that they have upgraded their growth outlook significantly since the US election, with the firm’s new “sign restrictions” model suggesting an increase in growth expectations in the G4 advanced economies from about 1-1½% during the first half of 2016 to around 2¼% now.
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