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Goldman Sachs Analysis: Biden's $ 1.9 Trillion Incentive Package will Boost the American Economy
Goldman Sachs Analysis: Biden's $ 1.9 Trillion Incentive Package will Boost the American Economy ; Goldman Sachs Analysis
Yazar: Zack Smith
Yayınlanma: 19 Ocak 2021 16:36
Güncellenme: 21 Kasım 2024 16:05
Goldman Sachs Analysis: Biden's $ 1.9 Trillion Incentive Package will Boost the American Economy
- Goldman Sachs raised its US GDP (Gross Domestic Product) forecast to 6.6 percent, according to the $ 1.9 trillion incentive plan to be announced by Joe Biden.
- Bank economists predict that the current 4.8 percent unemployment rate in the US will drop to 4.5 percent.
- Biden's $ 1,400 stimulus package is expected to result in a "massive increase" in disposable income.
The consensus of Goldman economists;
The bank stressed the intention of Biden's $ 1.9 trillion stimulus package is to support the collapsing US economy. Also stated that the projected economic expansion will be supported by disposable revenues and an increase in government spending. The consensus of Goldman economists is as follows, "We do not expect all the elements of the $ 1.9 trillion proposal to pass, but we are expected to see government financial assistance for education, public health spending, unemployment insurance benefits and smaller items."
Goldman Sachs reported that Biden's economic plan, which includes an additional $ 1,400 package in addition to the $ 600 per person incentive provided in December, will have a noticeable impact on disposable income in the first quarter of 2021.
Banks economists also said, "We estimate that nominal disposable income will rise by + 4.5 percent in 2021 from the projected rate of 3.8 percent."
After the Democrats gained senate control in the first week of 2021, the bank raised its US GDP forecast to 6.4 percent in anticipation of more financial incentives to combat the coronavirus.
Source: https://markets.businessinsider.com/
Goldman Sachs Analysis: Biden's $ 1.9 Trillion Incentive Package will Boost the American Economy
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