Goldman Sachs The Markets
Opportunities amidst historic volatility
Apr 11, 2025
Josh Schiffrin, Chief Strategy Officer and Head of Financial Risk for Goldman Sachs Global Banking & Markets, shares his expertise on navigating the current market turmoil. He discusses how tariff announcements impact inflation and economic growth, emphasizing the potential for recovery after initial declines. Schiffrin also highlights the importance of viewing market dips as buying opportunities and offers insights on the dynamics of the U.S. dollar. The conversation even touches on some fun NBA playoffs predictions!
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Quick takeaways
- The economic uncertainty driven by tariffs has led to fluctuating market conditions, with a critical focus on risk premium adjustments.
- Despite short-term volatility, the long-term strategy suggests that buying dips in risk assets remains a favorable approach.
Deep dives
Impact of Tariffs on Inflation and Growth
Tariffs are expected to raise inflation levels while also affecting economic growth, although the extent of this impact remains uncertain. The discussion centers on whether the growth hit will be a brief and sharp downturn or a more prolonged challenge. The current economic landscape is characterized by considerable uncertainty as trade negotiations unfold, which could potentially lead to a swift recovery after a short dip. Overall, the interplay between tariffs and economic performance is crucial for assessing future market conditions.
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