Original title: Goldman Sachs GroupThe size of the Biden bailout bill is expected to reach $1.5 trillion by raising the US GDP forecast.

On Tuesday, Goldman Sachs Group raised his forecast for US GDP in 2021 and the amount of stimulus bill for epidemic relief. Goldman Sachs Group also predicts that the Federal Reserve will raise interest rates for the first time in the first half of 2024.

Main point of view

Economist Goldman Sachs Group (Goldman Sachs) raised his forecast for US GDP growth in 2021 to 6.8 per cent from 6.6 per cent. Goldman Sachs Group raised his forecast for the Fed's first rate hike from the second half of 2024 to the first half of 2024, based on a larger-than-expected drop in unemployment in January and signs of stabilising the inflation outlook.

It is expected that the amount of the bailout bill will take several weeks to be determined. But Goldman Sachs Group's economists raised their estimate of the epidemic rescue stimulus bill to $1.5 trillion from the previous $1.1 trillion.

Goldman Sachs Group expects the Fed to raise interest rates for the first time in the first half of 2024, while from the second half of 2014, unemployment fell more than expected in January, based on a rise in gross domestic product (GDP), and signs of a solid inflation outlook. The Federal Open Market Committee (FOMC) will begin scaling back its asset purchases in early 2022.