Goldman Sachs raises odds of U.S. recession from 35% to 45%

As per its recent report named “Countdown to Recession,” global asset manager Goldman Sachs has raised its recession probability in the next 12 months from 35% to 45%, according to Forexlive. A week ago, Goldman Sachs had raised the likelihood of a U.S. recession from 20% to 35%. Another Forexlive report noted that Goldman Sachs now expects the Fed to begin rate cuts in June, earlier than its previous July forecast. If no recession occurs, the Fed is expected to lower rates three times in a row by 25 basis points each, bringing the rate to 3.5%–3.75%. In a recession, Goldman sees a larger 200 basis point cut over the next year.