Goldman Sachs has revised its view on how the coronavirus will impact the U.S. economy, seeing a sharper downturn than originally thought followed by an even bigger upturn.
Among its expectations are that the unemployment rate will peak at around 15% later this year, well above original expectations for 9%. Gross domestic product is forecast to fall 9% in the first quarter followed by a stunning 34% plunge in the second quarter that would be by far the worst period in post-World War II history.