HomeTop U.S. NewsUS Consumers Will Remain Resilient in 2024, Goldman Sachs Chief Executive Claims

US Consumers Will Remain Resilient in 2024, Goldman Sachs Chief Executive Claims

Goldman Sachs chief economist Jan Hatzius is adamant that U.S. consumers will remain resilient in 2024 regardless of the stressors that they may encounter over the coming year. Hatzius expects incomes to continue growing, boosted by a rise in job creation and rising yields in interest-bearing assets such as savings accounts.

Hatzius recalled that real disposable household income has grown at a pace of 4% in 2023, seeing it as a trend that will support resilient consumer spending. “We think 2024 is going to be a little weaker, but we’re still expecting about 3% real disposable household income growth. If that’s right, or even if that’s anywhere close to right, then it’s very difficult to see declines in real consumer spending,” the chief economist observed.

According to Hatzius, the U.S. unemployment rate should remain steady in 2024 at around 3.5%, with around 100,000 jobs expected to be created per month on average.

Netflix’s Resilience Praised by Wall Street Analysts After Strong Q1 Earnings

Streaming giant Netflix continues to be championed by Wall Street analysts, who view the company as “resilient” in a tough economic environment after strong...

Fed to “Wait for Greater Clarity” Before Making Policy Adjustment Says Chair Jerome Powell

The Federal Reserve will wait to see the impact of recent sweeping tariffs on the U.S. economy before considering making policy adjustments, according to...

Oil Prices Will Decline Through 2026 According to Goldman Sachs

Oil prices will drop further this year, with the trend spilling over to 2026, according to Goldman Sachs. The investment bank forecasts that increased...