Goldman Sachs has cut their projection for US GDP in 2022, they expect growth to slow to between 1.5%-2%.

The investment bank blamed the reduced growth forecast on the continuing Coronavirus pandemic.

“We have long expected growth to peak in a mid-year boom fueled by vaccination and fiscal support,” wrote economist Ronnie Walker. “But the subsequent deceleration now looks likely to be a bit sharper because the goods-to-services rotation is likely to be less seamless.”

Read More: Fox