Odd Lots
Goldman's Hatzius and Kostin on Markets and Macro in 2025
Dec 2, 2024
Jan Hatzius, Chief Economist at Goldman Sachs, and David Kostin, Head of U.S. Equity Strategy, tackle the macroeconomic uncertainties as we approach 2025. They discuss the potential impacts of new administration policies on tariffs and inflation, emphasizing how these factors affect market dynamics. The duo explores the balance of investor sentiment amid high valuations, the role of AI in shaping market expectations, and the complexities of economic growth linked to migration trends. Their insights provide a roadmap for navigating the turbulent waters of today’s economy.
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Quick takeaways
- The podcast highlights the profound uncertainty in the current economic climate, driven by policy changes, inflation, and labor market outlooks.
- Moderate earnings growth for the S&P 500 in 2025 is projected, supported by sales increases and margin expansions despite high stock valuations.
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Wells Fargo's Community Impact
Wells Fargo aims to foster a sustainable and inclusive future by directly addressing essential community needs such as housing affordability, small business growth, and financial well-being. Over the past five years, the bank has invested nearly $2 billion to bolster local communities, showcasing its commitment to social responsibility. This philanthropic effort is extended through contributions from Wells Fargo & Company, Wells Fargo Bank N.A., and the Wells Fargo Foundation. Such initiatives reflect a broader trend in corporate social responsibility, emphasizing the importance of banks and institutions actively participating in their community’s development.
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