Hatzius joined Goldman Sachs in 1997 as an associate economist in the Frankfurt office and moved to New York in 1999. He became a managing director in 2004, and succeeded former chief US economist William Dudley in 2005. In 2008, Hatzius was named to Goldman Sachs′ list of partners. In 2011, Hatzius became the firm's chief economist. He is also the head of both the Global Economics group and Americas Macro Research.
"We will likely see some 'payback' for the blockbuster April report, which probably exaggerates the underlying job trend. (The latest) ISM index confirms that manufacturing employment has firmly entered contraction territory."
"It's not plausible that capital spending has been weakened by the fact that multinationals are holding their funds abroad. I just don't believe that story."
"What matters for our well-being is the net output -- remember, depreciation charges are not available for consumption -- per person in the overall economy, not the gross output per hour worked in the non-farm business sector alone,"
"We continue to believe that the underlying drivers of productivity growth are turning less favorable,"
"High margins are an inducement to invest more aggressively."
"Oil is the dog that didn't bark. It's neutral because it's not far away from the average of where it's been over the past year."
"We do believe that the U.S. housing market is a bubble in the sense that its contribution to consumer spending is unsustainable. Households have used a large share of the recent home equity gains to supplement their spending. When these gains dry up, as they ultimately must, spending is likely to weaken substantially."
"While the official productivity data look impressive, alternative measures that are equally reasonable show a much more subdued picture."
"Going forward, is there still adjustment in the pipeline? I think there is. The household savings rate is low, and debt growth has accelerated. That means that consumer spending growth is going to be slow. In the next 12 months, the economy is going to do well, but it will be a temporary acceleration rather than the beginning of a normal recovery."
"I'm not sure which form it will take -- maybe a lengthy period of subdued consumer spending or something more violent than that. But it's clear to me that households cannot continue to save 3 percent of their disposable income and grow debt at 10 percent per year."
Fed Rate Cuts Delayed To June 2025 ...The U.S. economy added 256,000 jobs in December, surpassing expectations of 164,000 ... Goldman Sachs economists, led by Jan Hatzius, now anticipate Fed rate cuts in June and December 2025, as well as June 2026 ... Source ... .
Goldman Sachs economists led by Jan Hatzius noted that “seasonal adjustment challenges can make jobless claims readings particularly volatile around the holiday season.” US stocks had been straining ...
Overall, most economists were taken by surprise ... "The US economy grew much faster than expected this year, supported by solid growth in consumer spending," Jan Hatzius, the top economist at Goldman Sachs, said in a note over the weekend ... ....
Jan Hatzius, the top economist at Goldman Sachs, has taken a similar view recently ... Hatzius removed a January interest rate cut from his forecast and now expects just two 25-basis-point interest rate cuts in 2025.
According to Goldman’s chief economist Jan Hatzius, these moves could push inflation higher ... If implemented, the proposed tariffs could boost core PCE by 0.9%,” Hatzius explained ... Hatzius added that the ...
“Our forecast is only moderately below the pre-pandemic trend because there are legal and logistical limits to executive action,” Goldman Sachs economists led by Jan Hatzius wrote in the report ... Tariffs have emerged as the No ... .
Goldman chief economist Jan Hatzius said in a note that the proposed levies would result in a notable increase for consumer prices in the U.S.... core PCE prices by 0.9% if implemented," Hatzius said.
President-elect Donald Trump made tariffs and mass deportations a cornerstone of his winning campaign ... According to Jan Hatzius, Goldman Sachs' chief economist, an across-the-board tariff on all imports could increase prices by 1.2% ... ....
Jan Hatzius, Goldman Sachs chief economist, joins 'Squawk on the Street' to discuss if the economy can safely run 'hot', the economist's thoughts on inflation, and much more ... .
... preference for frontloaded policy normalization have strengthened our confidence in sequential cuts through early next year," Goldman analysts led by chief economist Jan Hatzius wrote on Thursday.
Goldman Sachs's chief economist, Jan Hatzius, remains convinced that the Fed will follow through on the hints of two more cuts by year-end, particularly following last week's weaker-than-expected jobs report.
“We are pencilling in four more consecutive cuts in the first half of 2024 to a terminal rate of 3.25%-3.5%, but see more uncertainty about both the speed next year and the final destination,” said Goldman Sachs economist Jan Hatzius ... Reuters .
Jan Hatzius, Goldman Sachs chief economist, joins CNBC's 'Squawk on the Street' to discuss how to understand the latest jobs data, the impact of the election, and more ... .
Housing affordability isn't set to get much better next year, Goldman Sachs analysts say ... "Our strategists expect mortgage rates to remain elevated for the foreseeable future," the analysts, led by Jan Hatzius, said in a Monday note ... ....
Aiken Standard
05 Nov 2024
Aiken Standard
05 Nov 2024