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Goldman Lifts U.S. Forecast on Biden’s $1.9 Trillion Rescue Plan

  • Economists predict growth of 6.6% in 2021, up from 6.4%
  • Goldman sees ‘large spike’ in disposable income this year
President-elect Joe Biden

President-elect Joe Biden

Photographer: Mark Makela/Getty Images 

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Goldman Sachs Group Inc. economists raised their growth forecasts for the U.S. this year and beyond after President-elect Joe Biden unveiled a sweeping revival plan calling for $1.9 trillion in spending.

In a weekend report to clients, economists led by Jan Hatzius predicted the economy would expand 6.6% this year, faster than the 6.4% previously expected. The unemployment rate for the end of 2021 is now seen at 4.5%, down from the prior estimate of 4.8%.