Goldman Sachs reveals surprising verdict on Trump vs Harris for economy boost

Goldman Sachs has conducted an analysis revealing that Kamala Harris would be more beneficial for the U.S. economy compared to Donald Trump if she wins the presidential election in November. The investment bank estimates that a Democratic victory could result in approximately 30,000 additional jobs created each month, primarily due to Harris' focus on supporting middle-class Americans and small businesses. This approach is expected to enhance consumer spending, which would positively impact the overall economy despite potential tax increases on the wealthy and large corporations. Experts, including Javier Molina from eToro, suggest that Harris' presidency could lead to significant job creation, particularly in sectors like renewable energy and infrastructure, especially if accompanied by fiscal stimulus and expanded tax credits. In contrast, a Trump victory could lead to rising inflation and a decline in economic output by 2025, primarily due to his proposed tighter immigration policies and increased tariffs on imports. Goldman Sachs warns that Trump's policies could hinder economic growth by limiting immigration, which is often seen as a key driver for labor market expansion and consumer spending. The bank's report indicates that the negative effects of tariffs and immigration restrictions would outweigh any positive fiscal impacts under a Trump administration. As the economy remains a critical issue for voters, Goldman Sachs has emphasized the importance of small businesses in the upcoming election, urging both candidates to prioritize them in their policy discussions. Recent polling shows a slight edge for Trump in voter trust regarding economic management, highlighting the competitive nature of this election cycle.