Goldman Sachs expects Trump’s upcoming tariff announcement to raise core inflation to 3.5% in 2025, according to CNBC. The firm also projects that economic growth will slow to just 1%, down from 1.5%. Goldman Sachs sees unemployment rising to 4.5% and recession odds climbing to 35%. Goldman warns of a rising risk of stagflation, a mix of low growth and high inflation last seen in the U.S. in nearly five decades.
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2025