Goldman expects U.S. economy to hit recession in 2008

01/10/2008 | Reuters

Goldman Sachs is predicting a recession in the U.S. that will force the Federal Reserve to cut benchmark interest rates to 2.5% later this year. Goldman is advising fund managers to overweight consumer staples, energy, utilities and health care. A reduction in the weighting of the financial sector is one of the most significant alterations to the bank's sector recommendations.

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