The good news is that Goldman Sachs (GS) believes that the "U.S. Federal Open Market Committee to cut interest rates to 3% by mid-2008, down from its earlier forecast of 4%," according to MarketWatch.
The bad news is that Goldman economists have moved up their odds of a 2008 recession in the US from 30% to a range of 40% to 45%.
Douglas A. McIntyre
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