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Search resuls for: "” Jan Hatzius"


5 mentions found


☆ What’s going on with China’s shadow banking system?
  + stars: | 2023-09-06 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
The world’s second-largest economy is grappling with growing financial distress, which means big problems for the nation’s nearly $3 trillion shadow banking industry. What’s happening: Shadow lenders, including trust firms, operate outside of the formal banking system. That’s because shadow banks are not just a problem in China. The key concern, said Towes, is whether Western organizations have loaned to shadow banks and are now vulnerable. Production cuts by OPEC+, which produces 40% of the world’s crude oil, have helped send oil prices higher in recent months, a development that could have repercussions for inflation and interest rates.
Persons: they’ve, ”, Phillip Toews, “ we’ve, Toews, that’s, Goldman Sachs, Matt Egan, That’s, It’s, “, Jan Hatzius, ” Hatzius, —, CNN’s Hanna Ziady, Brent, ” Stephen Innes Organizations: CNN Business, Bell, New York CNN, Asset Management, US, IMF, Global, Federal Reserve, West Texas, Organization of, Petroleum, Saudi Ministry of Energy Locations: New York, China, Beijing, Europe, Saudi Arabia, Russia, OPEC
☆ Goldman Sachs cuts US recession odds to 15% as economic optimism grows
  + stars: | 2023-09-05 | by ( Matt Egan | ) edition.cnn.com   time to read: +3 min
New York CNN —Goldman Sachs is increasingly confident that the US economy will stick the soft landing that many thought was nearly impossible to pull off. In a research report published Monday night, Goldman Sachs lowered its estimated chance of a US recession over the next 12 months to just 15%. Goldman Sachs pointed to “solid” job growth and rising real (inflation-adjusted) wages that should allow real disposable income to “reaccelerate” next year. The August jobs report, released late last week, showed that hiring remains solid, though it has slowed from the blockbuster pace of earlier in the post-pandemic recovery. “The August jobs report couldn’t be much better,” Moody’s Analytics chief economist Mark Zandi wrote Friday on X, formerly known as Twitter.
Persons: New York CNN — Goldman Sachs, Goldman Sachs, That’s, It’s, ”, “, Jan Hatzius, ” Hatzius, Hatzius, reaccelerate ”, Mark Zandi Organizations: New, New York CNN, Federal Reserve, Wall Street, Bloomberg, Atlanta Locations: New York
☆ Markets Remain Anxious, Despite Falling Odds of a Recession
  + stars: | 2023-09-05 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
The strong labor market is propping up U.S. households. “Real disposable income looks set to reaccelerate in 2024 on the back of continued solid job growth and rising real wages,” Jan Hatzius, Goldman’s chief economist, wrote in a client note. On Friday, the Labor Department reported that wage gains had cooled in August, but real wages, adjusted for inflation, are trending higher. In March, the bank raised its recession odds to 35 percent in the wake of Silicon Valley Bank’s collapse and worries that contagion could hurt other lenders. Poll numbers released on Monday by The Wall Street Journal showed that President Biden’s popularity is still sagging, partly because of his track record on the economy.
Persons: Goldman Sachs, ” Jan Hatzius, Goldman Organizations: Labor Department, Bloomberg, Wall Street Locations: United States, U.S, Bidenomics
☆ Premarket stocks: How Wall Street reacts to the GDP data will be telling
  + stars: | 2023-01-26 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +5 min
New York CNN —Wall Street analysts are holding their breath and crossing their fingers this morning as they await gross domestic product numbers for the final quarter of 2022. But that could all change if a recession looms into view and the US debt ceiling standoff drags on. “That is the worry: That you get turmoil in financial markets, a big tightening in financial conditions and that adds to downward pressure on economic activity,” he said. It’s not our expectation.”The United States hit the debt ceiling last week, forcing Treasury Secretary Janet Yellen to make accounting maneuvers to avoid breaching that $31 trillion borrowing limit. They argue it unfairly targets the fast-food industry and will increase prices and force businesses to lay off workers.
☆ Exclusive: Goldman Sachs: Even a near-default on US debt could spark a recession and market mayhem
  + stars: | 2023-01-25 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
Asked if a default or even a near default could cause a recession, Hatzius said yes. Still, Goldman Sachs is expecting a deal on the debt ceiling will be reached, eventually. “These solutions are often found at the very last moment.”Why Goldman Sachs says a recession isn’t comingAssuming the United States gets through the debt ceiling episode, Goldman Sachs is optimistic about the prospects for the US economy. Goldman Sachs expects the red-hot labor market will continue to cool down, but only gradually. The Goldman Sachs economist said his forecast is for the US economic expansion to continue through the 2024 presidential election, though that’s not a slam-dunk.
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