Trump looks like a net negative on economic growth: Goldman Sachs
Simulations suggest that his policies will weigh on growth due to trade and immigration restrictions
New York
ADD Goldman Sachs Group Inc's chief economist to the list of those concerned that US President Donald Trump will not jumpstart economic growth.
A week after a group of the bank's political analysts warned of risks from protectionist moves, Jan Hatzius and economist Jari Stehn wrote that they anticipate a delayed boost from increased government spending because a bill is not likely to pass until late 2017 or early 2018. In addition, the economists noted that "the more adverse parts" of the Trump agenda remain substantial. "The risks around US policy have also turned somewhat more negative," Mr Hatzius and Mr Stehn wrote in a note to clients on Monday.
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