Category: Goldman Sachs

Major Banks See Federal Reserve Raising Interest Rates Beyond 5 Percent as Inflation ‘Refuses to Soften’

February 17, 2023
Bank of AmericaBusiness & MarketsDeutsche Bankeconomic policieseconomyFederal Reserve PolicyGoldman Sachshigh inflationinflationU.S. interest rate hikesUS
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Goldman Sachs, Deutsche Bank, the Bank of America (BofA), and other financial institutions are expecting the Federal Reserve to extend its interest-rate hikes as elevated inflation and strong employment maintain upward pressure on prices. BofA now expects a pause in interest rate hikes in July rather than earlier expectations of June. “Resurgent inflation and solid…

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Oil Production Faces ‘Serious Problem’ in 2024, With Implication for Prices, Says Goldman Sachs

February 6, 2023
Business & Marketseconomic policieseconomyenergyGoldman SachsMarketsoil pricesOPECUSWorld
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Goldman Sachs Group predicts that oil will rise above $100 a barrel this year and that there could be a serious supply problem into 2024, as spare production capacity runs dry. The sanctions against Russian oil exports and rising demand from China, as it ends its zero-COVID lockdown policy, is expected to raise prices above its…

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Goldman Economist Says US Layoffs Were Far Higher Than Labor Department Reported

January 19, 2023
Business & Marketseconomic policieseconomyGoldman SachsLabor Departmentlayoffspersonal financePolicies & ImpactsPoliticsSocial IssuesUncategorizedUSUS News
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The U.S. Labor Department’s job openings report may have overlooked a recent upturn in layoffs, according to new research from Goldman Sachs. Goldman economist Manuel Abecasis stated in a report that available job openings in the United States have declined by a large margin without a boost to the official unemployment rate. Abecasis says that…

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Interest Rate Hikes to Push Australian Banks’ Earnings by 20 Percent in 2023: Goldman Sachs

January 17, 2023
AustraliaBusiness & MarketsCompanieseconomic policiesGoldman Sachsinterest rate hikesJim ChalmersWorld
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Financial analysts have forecasted a booming year for Australian banks in 2023 as they allegedly exploit a loophole in the central bank’s interest rate hiking cycle. Analysts at the global investment bank Goldman Sachs estimated that Australian banks would see a 20 percent surge in earnings this financial year, with a combined profit of $35.5…

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Goldman Sachs Platform Solutions Business Lost $3 Billion in Nearly Three Years

January 13, 2023
BusinessBusiness & MarketsCompaniesGoldman SachsMarketsplatform
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NEW YORK—Goldman Sachs Group Inc. lost $3.03 billion in nearly three years on its platform solutions business that houses transaction banking, credit card and financial technology businesses. This is the first time that Goldman has given a detailed look into the financials for the consumer and fintech arms that were intended to diversify the Wall…

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American Banks Prepare for Decline in Profits, 17 Percent Drop Predicted for Top Six Banks in the Fourth Quarter

January 10, 2023
Bank of Americabig banksBusiness & MarketsCitibankCompanieseconomic recessioneconomyGoldman Sachsjp morgan chaseMorgan StanleyrecessionUSWells Fargo
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Big banks in the United States are getting ready to deal with shrinking profits due to factors like an overall difficult economic environment, despite the fact that interest incomes have risen over the past year. JP Morgan Chase, Citigroup, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley are the six largest lenders in…

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Gold Is Better Portfolio Diversifier Than Bitcoin: Goldman Sachs

December 13, 2022
bankruptcybitcoinBusiness & MarketscryptocurrencygoldGold and CommoditiesGoldman SachsMarkets
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Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note. Gold is less likely to be influenced by tighter financial conditions, meaning it is “a useful portfolio diversifier,” said Goldman, especially given that gold has developed non-speculative use…

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Big-City Offices Remain Mostly Empty Amid Remote Work

December 1, 2022
Business & MarketsDavid SolomoneconomyElon MuskGoldman SachsJLLKastle Systemsoffice spacereal estateTwitterUSUS Real Estate
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Offices in America’s biggest cities are still less than half occupied, reflecting the impact of remote work despite an ongoing campaign by many employers to summon workers back to their desks. According to a weekly update by access control company Kastle Systems, offices across 10 cities were just 37.8 percent occupied on average as of…

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Goldman Sachs Sees Significant Decline in US Inflation Next Year

November 15, 2022
Business & Marketseconomic policieseconomyFederal ReserveGoldman Sachsinflationinterest rate hikeInvestmentMarketsrecessionUS
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Economists at Goldman Sachs Group (GSG) are predicting that the present surge in U.S. inflation will significantly decline in 2023. A team led by Goldman Sachs’ chief economist, Jan Hatzius, said that this would be led by three key factors: an ease in the supply chain crisis, a drop in housing prices, and slower wage…

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Goldman Sachs CEO Sees Fed Hiking Rates ‘Meaningfully From Here,’ Says Recession ‘Likely’

October 25, 2022
Business & MarketseconomyFederal ReserveGoldman SachsinflationrecessionUSUS News
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Goldman Sachs CEO David Solomon said on Tuesday he thinks that, amid persistently high inflation, the Federal Reserve will hike rates beyond the range of 4.5–4.75 percent if the central bank doesn’t see any “real changes in behavior.” Solomon made the remarks at Saudi Arabia’s flagship investment conference in Riyadh, on Oct. 25, alongside other…

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