Goldman's Hatzius and Snider on the Outlook for 2026

The Odd Lots podcast episode features Tracy Alloway and Joe Weisenthal discussing the 2026 economic and market outlook with Jan Hatzius, chief economist, and Ben Snider, chief U.S. equity strategist, both from Goldman Sachs. They delve into topics such as GDP growth, unemployment, the impact of AI on productivity and the stock market, tariff implications, consumer spending, and Federal Reserve policy. The conversation explores the concentration of earnings in big tech companies, the potential for a tech bubble, and the historical context of market trends, providing insights into the factors that could influence the economic landscape and investment strategies for the coming year.

Outlines

Part 1: Introduction, Context

Part 2: Economic Outlook, GDP, Unemployment

Part 3: Tariffs, Productivity, AI Impact

Part 4: Market Indicators, Fed Policy

Part 5: Global Markets, Future Forecasts

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Odd Lots

Part 1: Introduction, Context

Introduction to Palantir and Bloomberg Surveillance Podcast

Introduction to the Odd Lots Podcast and Guest Introduction

Part 2: Economic Outlook, GDP, Unemployment

Economic Outlook and the Relationship Between GDP and Unemployment

2025 Stock Market Performance and the Impact of AI

2026 S&P 500 Target, Credit Underperformance, and CPI Report Analysis

Part 3: Tariffs, Productivity, AI Impact

Tariffs and Their Impact on Inflation and the Stock Market

Tariffs on the Stock Market and AI Productivity

Valuations, Speculative Activity, and the Impact of AI on Labor

Part 4: Market Indicators, Fed Policy

Consumer Spending, Economic Indicators, and the New Fed Chair

Multiples and AI Productivity Boost

Concentration of Equities and Earnings in the S&P 500

Part 5: Global Markets, Future Forecasts

Housing Market and China's Economic Outlook

China's Domestic Economy and Market Dominance

Unusual Economic Data and Fed Policy Outlook for 2026

Concluding Remarks and Podcast Information

Goldman's Hatzius and Snider on the Outlook for 2026

Odd Lots

Part 1: Introduction, Context

00:00Introduction to Palantir and Bloomberg Surveillance Podcast

Introduction to Palantir and Bloomberg Surveillance Podcast

02:00Introduction to the Odd Lots Podcast and Guest Introduction

Introduction to the Odd Lots Podcast and Guest Introduction

Part 2: Economic Outlook, GDP, Unemployment

04:16Economic Outlook and the Relationship Between GDP and Unemployment

Economic Outlook and the Relationship Between GDP and Unemployment

07:512025 Stock Market Performance and the Impact of AI

2025 Stock Market Performance and the Impact of AI

12:122026 S&P 500 Target, Credit Underperformance, and CPI Report Analysis

2026 S&P 500 Target, Credit Underperformance, and CPI Report Analysis

Part 3: Tariffs, Productivity, AI Impact

15:14Tariffs and Their Impact on Inflation and the Stock Market

Tariffs and Their Impact on Inflation and the Stock Market

18:45Tariffs on the Stock Market and AI Productivity

Tariffs on the Stock Market and AI Productivity

22:41Valuations, Speculative Activity, and the Impact of AI on Labor

Valuations, Speculative Activity, and the Impact of AI on Labor

Part 4: Market Indicators, Fed Policy

25:55Consumer Spending, Economic Indicators, and the New Fed Chair

Consumer Spending, Economic Indicators, and the New Fed Chair

29:15Multiples and AI Productivity Boost

Multiples and AI Productivity Boost

32:37Concentration of Equities and Earnings in the S&P 500

Concentration of Equities and Earnings in the S&P 500

Part 5: Global Markets, Future Forecasts

36:06Housing Market and China's Economic Outlook

Housing Market and China's Economic Outlook

40:02China's Domestic Economy and Market Dominance

China's Domestic Economy and Market Dominance

42:20Unusual Economic Data and Fed Policy Outlook for 2026

Unusual Economic Data and Fed Policy Outlook for 2026

45:58Concluding Remarks and Podcast Information

Concluding Remarks and Podcast Information