Goldman Sachs: Reduced Odds of US Recession in Next Year

Goldman Sachs has lowered the probability of a U.S. recession in the next 12 months from 25% to 20% due to positive economic data. The investment bank's chief economist cited resilient economic activity, strong consumer sentiment, and falling unemployment levels as reasons for optimism. While the bank expects some deceleration in subsequent quarters, they believe the U.S. economy will continue to grow, albeit at a below-trend pace. Goldman still anticipates a 25 basis point interest rate hike from the Federal Reserve, but it could mark the end of the current cycle.