Goldman Cuts US Recession Risk to 20%

The video discusses the US economic outlook, focusing on recession risks and inflation trends. Janet Yellen believes a strong labor market will help avoid a recession, despite global risks from China's slowdown. Goldman Sachs has reduced its recession probability, citing improved inflation data. The Fed's rate hikes may end soon, with the July hike potentially being the last. Market reactions suggest a less likely recession, with retail sales data being crucial to watch, especially due to car price dynamics.

What role do credit markets play in the current economic outlook according to B of A?

What factors are expected to influence retail sales, and how might they mask consumer dynamics?