Goldman Sachs Cuts US Forecast Because Joe Manchin

CNN reports:

Senator Joe Manchin’s opposition to the Build Back Better Act prompted Goldman Sachs to swiftly dim its US economic outlook.

The Wall Street firm told clients Sunday it no longer assumes President Joe Biden’s signature legislation will get through the narrowly divided Congress, citing the West Virginia Democrat’s announcement that he’s a “no” on the $1.75 trillion bill.

“A failure to pass BBB has negative growth implications,” Goldman Sachs economists, led by Jan Hatzius, said in the research report.

Read the full article.