Goldman Sachs The Markets
The perfect setup for US stocks?
Jan 17, 2025
Josh Schiffrin, Chief Strategy Officer and Head of Financial Risk at Goldman Sachs, shares his expertise on the current economic landscape. He discusses the robust job market and falling inflation rates, which may influence the Federal Reserve's next moves. The conversation also explores how bond yields are responding to policy changes and the stock market's optimistic outlook. Schiffrin offers investment strategies focusing on US stocks, blending insightful financial analysis with a light-hearted take on his favorite basketball team.
10:42
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Quick takeaways
- The robust labor market with significant job gains indicates strong economic health, suggesting a stable environment for US stocks.
- Despite potential inflationary pressures from tariffs, a balanced approach from the new administration may keep inflation manageable in the long term.
Deep dives
Strong Labor Market Signals
The recent payroll report indicates a robust labor market, highlighted by significant job gains and a decreasing unemployment rate. Analysis of the six-month average reveals approximately 175,000 job additions per month, demonstrating a stable rather than overheated labor market. With low jobless claims further supporting this view, the economic strength heading into 2025 appears solid. The combination of these factors suggests that the economy is on strong footing without signs of overheating.
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