Goldman Sachs warns that student loan repayments, worker strikes, and government shutdowns will all drag down the 2023 US economy
According to a report on the website of Business Insider on the 16th, Goldman Sachs, an international investment bank, has warned that the resumption of student loan payments, strikes by auto workers, and possible federal government shutdowns will all lead to a decline in real GDP growth in the fourth quarter of the United States.
The team led by Goldman Sachs Chief Economist Hazos stated in a research report on the 12th that "GDP growth in the United States will significantly slow down in the third and fourth quarters.". Millions of Americans will resume repaying federal student loans starting in October. Hazos's team stated that resuming loan repayment may put pressure on consumer spending and lead to a decrease of about half a percentage point in US GDP growth. Strategists see the three major auto worker strikes that began on the 15th of this month, as well as the possibility of the federal government temporarily shutting down, as other economic headwinds that need attention in the fourth quarter. The longer each deadlock drags on, the greater the threat to the economy.