Earlier, Williams delivered a speech in which he said, "It's better to take preventative measures than to wait for disaster to unfold."The Fedread more
The country's Revolutionary Guards say they will soon releasePoliticsread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Market researcher James Bianco believes it's crucial to get a half point cut at the next Federal Reserve meeting.Trading Nationread more
The base version of the sports car will punch out 495 horsepower, 40 more than the seventh-generation car and enough to launch it from 0 to 60 in "less than three seconds"...Autosread more
President Trump said he's looking at the JEDI contract that will be awarded to Microsoft or Amazon.Technologyread more
Taiwanese President Tsai Ing-wen is expected to stop over in the U.S. on Friday on her way back from visiting diplomatic allies in the Caribbean, a move that's sure to make...China Politicsread more
Animation fans and Kyoto residents gathered at the site of Japan's worst mass killing in 18 years on Friday, offering flowers and prayers for the 33 people who died in an...Asia Newsread more
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used.Technologyread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
The bank's economists also downgraded its global growth forecast by 0.1 percentage point to 3.1 percent in 2016.
U.K. gross domestic product (GDP) would take a 2.75 percentage-point hit in the next 18 months from the cumulative effects of "increased uncertainty and deteriorating terms of trade," Goldman Sachs' Jan Hatzius, Jari Stehn and Karen Reichgott wrote.
Goldman's forecast for GDP growth in the U.K. this year was 1.5 percent, a 0.5 percentage-point drop from its previous forecast, while the bank's prediction for U.K. growth next year is 0.2 percent, a 1.8 percent decline from its previous forecast.
The economists listed three "economic transmission mechanisms" from the shock Brexit vote.
"First, the UK terms of trade are likely to deteriorate, especially if it becomes harder to export high-value added services (including financial services) to the European Union," the note said.
"Second, the uncertainty about the long term is likely to weigh on UK growth in the short term as firms hold off on investment...Third, outside the UK the main transmission channels are weaker UK demand for imports and—much more importantly—a tightening of financial conditions via a stronger exchange rate and lower risk asset prices."
The euro zone's GDP would fall by 0.5 percentage point to 1.25 percent over the next two years, the economists said. They also cut their second-half 2016 forecast for U.S. growth to 2 percent from 2.25 percent.
"Further downward adjustments could become necessary if global financial markets deteriorate beyond the initial reaction, or if we see greater than expected political and economic contagion into other European countries," they wrote.
The Bank of England was likely to cut interest rates by 25 basis points to 0.25 percent and introduce renewed credit easing, while the Bank of Japan may cut at its July policy meeting, they added. A basis point is 1/100th of a percentage point.
Follow CNBC International on and Facebook.