In Goldman Sachs' special year-end edition of Top of Mind, they tell the story of a very eventful 2024, characterized by four key themes:
The year featured elections, geopolitical tensions, and war, As voters in over 70 nations decided whether to cast their leaders ashore. Notably, the US elected Former President DonaldTrump to again lead, Raising policy uncertainty and trade tensions amid already rough seas.
2024 was also the year many G10 central banks began cutting rates, But different growth-inflation mixes led to divergence in start dates. The Fed's relatively late start raised questions of whether it waited too long, Though those who warned about recession have (so far) been proven wrong.
