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Fortune
Fortune
Paolo Confino

Goldman Sachs tells investors Trump’s tariffs pose a major ‘event risk’ and to expect slower growth in 2025

(Credit: Mensent Photography)

Goldman Sachs expects growth of the S&P 500 to slow in 2025 after two years of blistering returns, according to an analyst note released Tuesday. But growth is still on the horizon, based on the bank’s outlook. 

The good-but-not-great forecast stems from Goldman’s belief that the macroeconomic picture is promising but that the election of President-elect Donald Trump increases the risks of shocks to the market. 

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