Jan Hatzius

Jun 27, 2024 | rethinking65.com | Jan Hatzius

1. Last week’s US inflation data reinforced our view that the Q1 spike was an aberration. With CPI, PPI, and import prices in hand, we estimate that core PCE rose just 0.13% in May. In the remainder of 2024, we expect prints averaging 0.17%, with flat core goods prices and ongoing gradual deceleration in both shelter and non-housing core service inflation.

Jun 18, 2024 | gspublishing.com | Jan Hatzius

This report is also available in Chinese. 1. Last week’s US inflation data reinforced our view that the Q1 spike was an aberration. With CPI, PPI, and import prices in hand, we estimate that core PCE rose just 0.13% in May. In the remainder of 2024, we expect prints averaging 0.17%, with flat core goods prices and ongoing gradual deceleration in both shelter and non-housing core service inflation.

Apr 18, 2024 | edwardconard.com | Jan Hatzius |Taylor Bowley |Spencer Hill |Jessica Rindels

Jan Hatzius @GoldmanSachs forecasts wage growth decelerating to 3.5%, consistent with the Fed’s 2% inflation target and expects quarterly cuts starting in July. Despite the recent upside inflation surprises, we think the broader disinflationary narrative remains intact. One key reason is that the labor market continues to rebalance nicely. Our jobs-workers gap is down to 2.0 million, the quits rate is below pre-pandemic levels, and the wage news remains favorable.

Feb 17, 2023 | dispatchist.com | Jan Hatzius

Producer prices accelerated in January by the biggest margin in seven months, one report on Thursday showed, while another showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week. "In light of the stronger growth and firmer inflation news, we are adding a 25bp (basis points) rate hike in June to our Fed forecast, for a peak funds rate of 5.25-5.5%," economists led by Jan Hatzius said in a note dated Thursday.