Jan Hatzius , chief economist at Goldman Sachs , revealed that the US economy is facing what he described as a " speed standstill " phase, warning that the continuation of the current situation will lead to further slowdown unless the Federal Reserve takes the initiative to implement a series of interest rate cuts .
During his participation in the Communacopia + Technology conference, Hatzios stressed that economic growth will remain weak in the short term, but could see a tangible improvement by 2026 as the impact of the anticipated cuts takes effect.
He noted that recent labor market data was disappointing, with the US economy adding only 22,000 jobs in August, far below analysts' expectations, reflecting the impact of Trump's tariffs and the disruptions caused by the expansion of artificial intelligence on the job structure.
While the US Labor Secretary blamed the Federal Reserve for the continued economic pressures, Hatzius expressed optimism that the US central bank might begin a series of cuts between September and December, with the possibility of continuing monetary easing into 2026.
He explained that fiscal policy will shift from being a source of pressure this year to a source of support for growth next year, stressing that overcoming this slow phase will help the economy regain momentum and mitigate risks.
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