Latest Interviews
Showing 1–15 of 597 interview transcripts.
Clear all filters- Goldman Sachs17 min
Daniel Nadler on Building an AI-Powered Search Engine for Medicine
Founded by Dr. Daniel Nadler, Open Evidence functions as an AI-powered "MRI of medical knowledge" that aligns physicians with current clinical standards by reducing the 17-year gap between research and practice to mere hours. Backed by Google and formalized partnerships with the New England Journal of Medicine and NCCN, the platform utilizes licensed, full-text data to eliminate information overload and hallucinations inherent in general large language models. This technology currently processes 1.5 million verified queries to standardize care across complex specialties like oncology, with a long-term strategic goal of eliminating medical error as a leading cause of death.
- Goldman Sachs12 min
The Bond Market May Be the Stock Market's Biggest Risk
Tony Pasquariello, Chris Hussey
Goldman Sachs economists led by Tony Pasquarello analyze a unique macro environment where aggressive Fed rate hikes collide with a $1.3 trillion AI investment surge and a $2 trillion fiscal deficit. This dual impulse is sustaining robust economic growth despite decelerating corporate earnings and rising bond yields, which Pasquarello identifies as the primary risk to equity valuations. Consequently, institutional strategies are shifting toward defensive bond positioning while favoring specific trades in Japanese domestic indices and anticipating significant market volatility ahead of the upcoming Non-Farm Payrolls report.
- Goldman Sachs19 min
Why Markets May Be Pricing in Too Many Fed Rate Hikes
Rob Kaplan, Warsh, Alison Nathan, Robert Kaplan
On September 22, 2026, Goldman Sachs Exchanges featured former Dallas Fed President Robert Kaplan analyzing the Federal Reserve's first rate hike in three years under new Chairman Kevin Warsh, a move driven by persistent 3% inflation rather than market speculation. Kaplan highlighted the Fed's cautious outlook, noting that conflicting economic forces—specifically booming AI infrastructure versus sluggish housing markets—support a decision to pause further increases until December despite Treasury yields exceeding 5%. While maintaining that FOMC members operate free from political pressure, Kaplan warned that a prolonged supply shock risks broadening inflation if economic data such as PCE and CPI indicators in October show no sign of firming.
- Goldman Sachs19 min
Ryan Serhant on the Art of Selling Luxury Real Estate
Ryan Serhant, who pivoted to real estate in 2008 and subsequently starred in the ten-season run of *Million Dollar Listing New York*, has built a diversified technology and services firm that currently surpasses $1 billion in monthly transaction volume. Unlike traditional brokerages, Serhant's company utilizes an organic, content-driven inbound strategy to recruit intrapreneurs and deploy AI tools that streamline complex transactions without paying for customer acquisition. Looking ahead, the firm is repurposing commercial spaces to address housing shortages while integrating artificial intelligence to enhance human relationship-building, a strategy that recently enabled the industry's most expensive residential sale of $308 million.
- Goldman Sachs18 min
Can Stocks Rally With a Hawkish Fed?
Tony Pasquariello, Josh Schiffrin, Dominic Wilson
A panel of financial experts analyzes shifting market expectations for a tightening cycle of two to four rate hikes, emphasizing that oil prices exceeding $100 per barrel remain the critical variable for future inflation and a potential Federal Reserve pivot. Current fixed income and equity markets reflect a "higher yield world" driven by AI capital competition and fiscal deficits, yet demonstrate resilience with U.S. GDP projected to hold near 2% and unemployment trending lower despite energy headwinds. Strategists suggest that while the environment remains range-bound, a decisive drop in oil prices could catalyze an all-assets rally, prompting recommendations to utilize call options for the upside while monitoring the Fed's hawkish stance.
- Goldman Sachs11 min
The Opportunities for Investors amid Higher-for-Longer Interest Rates
Federal Reserve Chair Walsh and analysts at a recent policy briefing highlighted a consensus for two annual rate hikes, emphasizing that current monetary tightening merely withdraws accommodation rather than establishing a restrictive stance. While long-duration Treasury yields near 5% have sparked market volatility due to supply imbalances and demographic shifts, experts argue that U.S. debt sustainability concerns are unfounded given robust nominal GDP growth. Investors are advised to capitalize on the asymmetric opportunities in compute and data center sectors while monitoring geopolitical risks in the Middle East as the primary variable threatening future inflation stability.
- Goldman Sachs11 min
What a Fed Rate Hike Could Mean for US Stocks
Jonathan Shugar, Chris Hussey, John Sugar
Goldman Sachs' cross-asset sales team marked the 25th anniversary of the 9/11 attacks while outlining a market outlook driven by an anticipated 50 basis point Federal Reserve rate hike and a projected S&P 500 target exceeding 8,000 points. The team identified the back end of the rate curve and surging AI infrastructure capital expenditures as primary risks, recommending 30-year swap payers to hedge against global fiscal deficits while favoring AI semiconductors and experiential consumer stocks as key growth opportunities. Additional strategic focus was placed on mitigating geopolitical energy disruptions in Europe and capitalizing on Brazil's upcoming election cycle as a potential counter-trend play.
- Goldman Sachs18 min
How AI is Affecting GDP Growth, Productivity, and Jobs
Sharmin Mossavar-Rahmani, Jan Hatzius
Goldman Sachs estimates that while AI currently contributes a modest 0.1 percentage points to U.S. GDP, it is driving $600 billion in domestic capital expenditure with projections reaching up to $7 trillion cumulatively by 2030. Over the next decade, these investments are expected to raise productivity levels by approximately 15% and push long-term growth forecasts into the mid-2% range, despite immediate headwinds from import deductions and capital reallocation. Although roughly 25% of work tasks are exposed to AI technology, analysis suggests only 6% to 7% will result in direct job elimination, leading to a gradual transition that may raise the unemployment rate by up to 1 percentage point over ten years without triggering a sudden labor shock.
- Goldman Sachs12 min
Why Gold Is Expected to Rise to Record Highs
Goldman Sachs and analyst Tony Kim characterize the current gold market as an elongated pause rather than a trend reversal, with prices hovering 20% below January peaks amid Federal Reserve policy uncertainty and U.S.-Iran geopolitical disruptions. Structural shifts have fundamentally altered market dynamics, as central bank purchases surge from 400 tons to over 1,000 tons annually while Indian currency defense policies constrain physical demand, creating a supply shortage that could decouple gold prices from bond yields. Strategic analysis identifies $4,000 per ounce as a critical support floor, prompting recommendations to scale into long positions ahead of upcoming CPI data that will define the Federal Reserve's immediate reaction function.
- Goldman Sachs12 min
Chairman and CEO David Solomon Joins CNBC to Discuss His Outlook for the US Economy
Solomon characterizes the current U.S. economic outlook as constructive, driven by resilient consumer spending, an "enormous investment cycle," and anticipated long-term productivity gains from AI adoption despite geopolitical and trade policy headwinds. While acknowledging future fiscal recalibration and potential regulatory shifts, he asserts that credit markets remain stable with strong cash flows and views rising Treasury yields as a reflection of sound economic fundamentals rather than a calamity. Furthermore, capital markets are projected to sustain robust activity through the coming year, though Goldman Sachs notes a strategic hiring shift away from New York to regions like Dallas and Salt Lake City to navigate evolving policy and tax environments.
- Goldman Sachs8 min
What Is the Outlook for Diesel and Gasoline Supplies?
Goldman Sachs analysts observe that global commodity markets have exhibited unexpected resilience against six months of Strait of Hormuz disruptions, driven by supply reallocation and significant demand destruction in China. Despite falling crude inventories, refined product markets remain critically tight due to production cuts in the Persian Gulf, Russia, and China, prompting recommendations for long crack spreads and Asian hydrocarbon positions. Future market balance hinges on a potential El Niño-induced warm winter, which would mitigate European energy competition, while geopolitical uncertainty sustains demand for defensive assets like gold and power sector equities linked to AI growth.
- Goldman Sachs12 min
Why US Equity Returns Are Broadening Beyond AI Stocks
Shawn Tuteja, Chris Hussey, Sean Tatasia
Despite Q2 earnings beating expectations and broadening market participation beyond the Magnificent Seven, investor sentiment remains cautious as volatility drops and capital rotates from high-flying AI stocks into undervalued sectors like healthcare and consumer experience. Concurrently, macroeconomic pressures from bond supply dynamics, rising oil prices, and a slowing U.S. economy outlook are complicating the Federal Reserve's policy path ahead of the critical Jackson Hole symposium. Consequently, market participants are increasingly utilizing ETFs and hedging strategies to navigate geopolitical risks and potential rate shifts while earnings consensus for 2027 is revised upward.
- Goldman Sachs17 min
How New Models are Changing the AI Investment Landscape
Sharmin Mossavar-Rahmani, Jim Covello
Current AI adoption faces a critical bottleneck where massive infrastructure investments fail to generate net savings for enterprises, concentrating economic value primarily with semiconductor manufacturers rather than end users. Profitable integration depends on solving data readiness and implementing model orchestration layers that route queries efficiently, a shift expected to redirect value toward the enterprise value chain through widespread open-source adoption. As hyperscalers face scrutiny over trillion-dollar capital expenditures, the market is pivoting from reward-based sentiment to demand for immediate return on investment, creating divergent outcomes based on whether enterprises can eventually achieve sustainable AI profitability.
- Goldman Sachs12 min
How Inflation and Fiscal Policy Are Driving US Treasury Markets
Mike Mitchell, Mike Washington
Following an August 12th core CPI print that met consensus at 21.5 basis points, forecasters are revising inflation expectations downward while bond market pricing implies a 9 basis point rate cut at the upcoming September Federal Open Market Committee meeting. Market participants are navigating a complex environment where heavy Treasury supply, robust corporate debt issuance for AI infrastructure, and persistent fiscal concerns are driving real yields to historically elevated levels, prompting recommendations for a yield curve steepener. With the labor market described as tepid and non-fiscal data taking precedence, attention now shifts to the August 13th PPI release and upcoming FOMC minutes to gauge the central bank's forward policy stance.
- Goldman Sachs8 min
Why US Stocks May ‘Grind Higher’
Ashok Varadhan, Mike Washington
Goldman Sachs co-head Ashok Baradhan forecasts equities will continue to "grind higher" despite recent volatility driven by war tensions, Fed rate concerns, and AI leverage unwinding, predicting a V-shaped tech recovery and S&P 500 new highs. Baradhan diverges from current market pricing by asserting interest rates will remain on hold through year-end as inflation recedes, while maintaining a constructive outlook on credit spreads and dismissing short-term currency interventions. The firm recommends investors stay fully invested with a target energy price below $70 per barrel to support U.S. yields and productivity gains, pending validation from upcoming jobs and inflation data.