This is one of the serious news articles that I read today. It is Goldman Sachs judgement. It might not be correct but such an institution is professioal and the statement will have a number of implications. Goldman Sachs says the US is in a recession
Henry Paulson's old company, Goldman Sachs is yet another high profile, highly successful business that sees a US recession.
"Over the past few months, we have become increasingly concerned that the US housing and credit market downturn would trigger not just a growth slowdown and substantial Fed easing -- our long-standing view -- but also an outright recession," Goldman Sachs said in a note to clients Wednesday. "The latest data suggest that recession has now arrived, or will very shortly."The recent rise in unemployment is particularly worrisome, Goldman indicated.