"We continue to see recession risk as limited," the Goldman economists led by Jan Hatzius said...
"The economy continues to look 'fine overall,' there are no major financial imbalances and the Federal Reserve has a lot of room to cut interest rates and can do so quickly if needed," they said...
"The premise of our forecast is that job growth will recover in August and the FOMC will judge 25bp cuts a sufficient response to any downside risks," the Goldman Sachs economists said...
The economists added that they are skeptical the labor market is at risk of deteriorating rapidly in part because job openings indicate demand remains solid and there has been no obvious shock to spark a downturn.
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