Aug 21, 2024, 11:07 AM
Aug 19, 2024, 12:00 AM

Senator Urges Trump to Focus on Policy Amid Election Campaign

Highlights
  • Goldman Sachs revises the U.S. recession odds down to 20%.
  • The probability could decrease further based on the August jobs report.
  • Economists are more optimistic about the U.S. economy's outlook.
Story

U.S. Senator Lindsey Graham has advised former President Donald Trump to concentrate on policy issues as he campaigns for the upcoming election. Graham emphasized that while Trump’s programs are beneficial for Americans, he risks losing to Democratic candidate Kamala Harris if he shifts the focus to personal matters. He urged Trump to articulate his plans for addressing critical issues like border security and inflation in the remaining days of the campaign. Trump has yet to publicly respond to Graham's comments but previously stated he expects personal attacks during the race. Goldman Sachs has revised its forecast for a U.S. recession, lowering the probability from 25% to 20%. This adjustment follows recent labor market data that eased fears of an impending economic downturn. Earlier in August, the firm had raised the recession probability due to a spike in the unemployment rate, but subsequent reports, including a rise in retail sales, have prompted a reassessment. Economists suggest that a positive jobs report in early September could further reduce recession fears. In other news, an international banker with Morgan Stanley remains missing after a superyacht sank, reportedly due to a waterspout. Divers are currently searching the wreckage of the 160-foot vessel, which capsized early Monday morning. This incident adds to the growing concerns surrounding the financial sector and its stability amid fluctuating economic conditions. In a letter to the university community, officials acknowledged that while most protests on UC campuses were peaceful, some activities were not. The university plans to develop a framework for consistent enforcement of policies and responses to violations, alongside launching a campus climate initiative to address these issues.

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