Hurricanes Irma and Harvey cause Goldman Sachs to slash its outlook for the US economy

Goldman Sachs has cut its third-quarter GDP forecast following a pair of catastrophic hurricanes. The firm now sees GDP expanding by 2% during the period, down 0.8 percentage points from its previous forecast. Goldman currently estimates that Hurricane Irma will result in $30 billion in total losses, adding to the $85 billion of damage already caused by Hurricane Harvey, which rocked the city of Houston last month. "The uncertainty around all of these figures is high, but there is little doubt t...