Goldman Sachs warns of potential recession in the next two years

Apr 20, 2022, 12:06 PM | Updated: 12:15 pm
the Fed...
The Federal Reserve Building in downtown Washington DC, USA at night. HDR image.

SALT LAKE CITY — Goldman Sachs predicted that there’s a 35 percent chance we’ll have a recession in the next two years. 

Deutsche Bank was the first major bank to issue a warning about a possible recession earlier this month.

This came at the same time the Federal Reserve announced several interest rate hikes to address frenzied growth. 

Goldman Sachs analysts looked at historical patterns and came to the conclusion that the Fed has “a hard path to a soft landing.” 

But you’re not out of options if there is a recession., according to one financial planner.

“We actually have recessions more than we think,” said Shane Stewart, DMBA certified financial planner. “It’s just when they’re pronounced, and long-term recessions is when we sit up and take notice.” 

Stewart suggested preparing for any possible downturns in the economy. 

“Making yourself employable, making sure you have the skills or the education to be employable,” Stewart said. “And then really not having more debt than you can handle.” 

He also encouraged people to set some cash aside now.

He pointed out that we’ve gone through recessions before — like at the start of the pandemic — that were extremely short.


Photo of new tags installed by Digital Seat Media for Utah Jazz home games...
Chandler Holt

Utah Jazz home games receive a big upgrade just before the playoffs

The Utah Jazz has partnered with Digital Seat Media to install tags that fans can scan to access seating maps, food ordering, and more.
6 months ago
Relatively cheap gas can be found in Pleasant Grove and Ogden...
Kira Hoffelmeyer

Gas prices at this station may be the lowest in Utah

A local gas station set low prices, and said it hopes to set an example for larger gas stations.
6 months ago
Debbie busts inflation by buying consigned clothes....
Debbie Dujanovic

Dujanovic: Battling inflation like it’s 1981

Inflation has Debbie Dujanovic budgeting like it's 1981. She has tips on how to battle inflation and save your wallet some tears.
6 months ago
AmTrust Financial...
Chandler Holt

AmTrust Financial opening will bring 180 jobs to Utah

AmTrust Financial is opening a new office in South Jordan. Nearly 200 jobs will open up in Utah because of the new office.
6 months ago
In this Feb. 11, 2005 file photo, trays of printed social security checks wait to be mailed from th...
Curt Gresseth

When is the right time for parents to drop children off their taxes?

A tax expert shares her insights on when parents can no longer claim their children as dependents and what to do if you owe more than you anticipated.
6 months ago
FILE - This May 8, 2008, file photo shows blank checks on an idle press at the Philadelphia Regiona...
Jacob Rueda

What the delay in receiving a tax refund this year will mean for Utahns

Despite the delay in getting a tax refund to people, the IRS says filing electronically and using direct deposit is still the fastest way to get a refund.
6 months ago

Sponsored Articles

Prescription opioid...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?

Tax Tuesday: The Most Common Mistakes People Make When Filing Their Taxes

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.

Tax Tuesday: How will last year’s child tax credits affect you?

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.

Tax Tuesday: Key Information Before the Filing Deadline

Businesses can receive a credit of up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021.
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Joseph Smith Memorial Building...
Temple Square

The Joseph Smith Memorial Building is an icon of Salt Lake City | Why hosting an event at this beautiful location will make you a hero this year

Here's why hosting an event at the iconic Joseph Smith Memorial Building in downtown Salt Lake City will make you a hero this year.
Goldman Sachs warns of potential recession in the next two years