In each episode of "Exchanges," people from the firm share their insights on developments shaping industries, markets and the global economy.
In this episode of Goldman Sachs Exchanges, Allison Nathan and George Lee host Rebecca Kruger to discuss the rising power demands of AI and its implications for companies, investors, and economies. The conversation highlights the unprecedented power demand driven by AI data centers, the challenges of an aging and decar...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Kevin Daly about global aging and its economic implications. Daly explains that global populations are aging due to increased longevity and declining fertility rates, noting that while increased longevity is a positive development, declining fertilit...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Daan Struyven, Co-Head of Global Commodities Research and Head of Oil Research at Goldman Sachs, about the factors influencing commodity markets, particularly oil and gold. Struyven explains the recent volatility in oil prices, attributing it to geop...
In this episode of Goldman Sachs Exchanges, Allison Nathan hosts Christian Mueller-Glissmann and Alexandra Wilson-Elizondo to discuss market trends and investment strategies for the second half of the year. They review the unexpected market shifts, highlighting the rapid moves and recoveries, and the unusual convergenc...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews economist Ken Rogoff and historian Niall Ferguson about the fiscal situation of the United States. Both Rogoff and Ferguson express concerns about the US fiscal trajectory, citing rising real interest rates, high debt levels, and a potential shift in...
In this episode of Goldman Sachs Exchanges Great Investors, Tony Pasquariello interviews Steve Cohen, founder, CEO, and president of Point72, about his career, investment strategies, and views on the market. Cohen discusses his early interest in the stock market, the evolution of the hedge fund industry, and the traits...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Wolfgang Fink, head of Goldman Sachs' Germany and Austria businesses, about the German economy. They discuss the new German government's plans for increased spending on defense and infrastructure, as well as addressing migration issues. The conversat...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews John Waldron, President and COO of Goldman Sachs, about the current economic environment and the challenges facing corporate decision-makers. Waldron discusses the resilience of the U.S. economy, potential impacts of tariffs and interest rates, and h...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Alec Phillips, Chief US Political Economist at Goldman Sachs Research, about a recent court ruling that blocked much of President Trump's proposed tariff policies. Alec explains the court's decision, which was based on the idea that the administratio...
In this episode of Goldman Sachs Exchanges, Allison Nathan interviews Tavis Cannell, the global head of infrastructure within Goldman Sachs Alternatives, about the evolving landscape of infrastructure investing. Cannell discusses how infrastructure has become a resilient and diversifying asset class, noting its attract...
In this episode of Goldman Sachs Exchanges Great Investors, Tony Pasquariello interviews Rob Citrone, founder of Discovery Capital Management, about his investment strategies and market outlook. Citrone expresses a constructive view on the U.S. economy, particularly for 2026, driven by tax cuts and the strength of the ...
Allison Nathan hosts a discussion with Richard Clarida and John Cochrane about the independence of the Federal Reserve. The conversation explores the historical and legal basis for Fed independence, potential threats to this independence, and whether the Fed has overstepped its mandate by engaging in activities beyond ...
This episode explores the U.S. stock market's recovery to pre-"Liberation Day" levels, despite ongoing tariff uncertainties, questioning whether the market's optimism is justified. David Kostin explains the market's initial shock from tariff announcements, followed by a rally driven by expectations of an "off-ramp" fro...
This episode explores Katie Koch's transition from CIO at Goldman Sachs to CEO of TCW, a global asset management firm, and her strategies for leading the company through evolving market dynamics. Koch reflects on her experiences at Goldman Sachs, emphasizing the invaluable relationships and lessons learned, particularl...
This episode explores the implications of the rise of AI for U.S. tech giants and investor sentiment, particularly in light of recent earnings reports and macroeconomic factors. Against the backdrop of significant capital expenditure commitments by major tech companies to support AI workloads, the discussion highlights...
This episode explores the potential for stagflation in the U.S. economy and the Federal Reserve's likely response. Against the backdrop of slower growth and stickier prices, former Dallas Fed President Rob Kaplan argues that several factors, including government spending cuts, regulatory reviews, and decelerating immi...
This episode explores the surge in mergers and acquisitions (M&A) within the cybersecurity sector. Against the backdrop of a generally soft deal-making environment, cybersecurity stands out as a robust area of activity, fueled by a more dangerous global landscape and the increasing recognition of cybersecurity as a co...
This episode explores how insurers are navigating today's volatile markets and adjusting their investment strategies. Against the backdrop of a tricky market environment, the discussion highlights the unique challenges and opportunities faced by insurers, particularly their underweight equity positions and the hedging ...
This episode explores the potential economic consequences of the Trump administration's tariff policies, specifically the risk of a US recession. Against the backdrop of historically unprecedented tariff increases, Nobel laureate Paul Krugman emphasizes the uncertainty surrounding these policies as the primary driver ...
This episode explores the evolution and current state of private equity investing, specifically focusing on Warburg Pincus's experience over its 50-year history. Against the backdrop of Warburg Pincus's first fund in 1971, a time of market uncertainty, the discussion contrasts the early investment landscape with today...
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