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Goldman's Hatzius and Snider on the Outlook for 2026

December 29, 2025

AI Summary

5 min read

🎙️ The Voices & The Context

  • The Format: This interview-style podcast dives into Goldman Sachs' 2026 economic and market forecasts amid recent data surprises like soft CPI and AI hype, blending macro analysis with equity strategy in a precise, data-driven exchange. Analytical and forward-looking.
  • The Format: An interview with expert guests.
  • The Key Players:
    • Hosts: Tracy Alloway and Joe Weisenthal deliver sharp, playful chemistry through banter on forecast season rituals and bubble worries, anchoring the main topic of 2026 outlooks.
    • Jan Hatzius: Chief economist at Goldman Sachs, renowned for accurate macro calls and deep dives into productivity, inflation, and Fed policy.
    • Ben Snider: New chief US equity strategist at Goldman Sachs, replacing David Kostin, notable for earnings-focused market insights and S&P 500 targets.

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What you'll learn

  • 1 (00:00) **🎙️ Introduction: Jan Hatzius & Ben Snider**
  • 2 (02:26) **2026 Economic Outlook Preview**
  • 3 (04:39) **Goldman Sachs Research Process**
  • 4 (05:33) **Macro-Equity Alignment**
  • 5 (06:57) **Reconciling GDP Growth and Unemployment**
  • 6 (08:18) **2025 Stock Market Review**
  • 7 (09:45) **Recent Mega-Tech Weakness**

+ Full timestamped outline available in the app

Show Notes

2025 was an extraordinary year, with the real economy defying recession worries and equity markets putting up monster returns. So can this be repeated again in 2026? On this episode, we speak with two of the top minds at Goldman Sachs. Jan Hatzius is the bank's chief economist and head of research and Ben Snider is its chief US equity strategist. We review what really happened in 2025, talking about the impact of both AI and the tariffs, as well as how these factors will impact the real economy and stocks next year.

Read more:
Larry Ellison, Not Elon Musk, Was The Tech Titan Who Defined 2025
Why 2026 Is Poised to Be Another Rocky Year for Global Trade

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