Goldman Cuts U.S. Growth Forecast as Delta Slows Consumers

The video discusses concerns about the US consumer, highlighting a weaker jobs report and Goldman Sachs' decision to cut its growth forecast for the year from 6% to 5.7%. The American consumer, making up 70% of the US economy, is expected to reduce spending due to the Delta variant and reduced fiscal support. This is likely to impact the economy, as seen in slipping GDP forecasts. However, Goldman Sachs has raised its projections for 2022 from 4.5% to 4.6%.

What factors are contributing to the concerns about the US consumer?

How has Goldman Sachs adjusted its growth forecast for the US economy?

What percentage of the US economy is made up by the American consumer?

What changes in consumer spending patterns are anticipated due to the Delta variant?

What are the GDP projections for 2022 according to Goldman Sachs?