GS Morning Update

This Goldman Sachs briefing covers Fed Chair nominee Kevin Warsh's commitment to independence and trimmed-mean inflation, while forecasting a 7600 year-end target for the S&P 500.

Key Takeaways

• 1.Fed Chair nominee Kevin Warsh emphasizes Fed independence and a shift toward trimmed-mean and median inflation measures over core PCE.
• 2.Supply chain disruptions from the Middle East conflict are currently more focused on energy (LNG and refined products) than non-energy goods, which remain manageable.
• 3.GS US Equity Strategy projects a 7% rise for the S&P 500 to a year-end target of 7600, driven by double-digit earnings growth.

Table of Contents

• 1) FX Trader Call Today @ 2:00 PM LDN
• 2) US ECONOMICS (MERICLE) – Warsh Confirmation Hearing Review
• 3) ADAM CROOK – 2 Mins Read: Shipping, Transit Routes + Supply Chain Disruptions
• 4) UK ECONOMICS (MOBERLY) - UK CPI Recap
• 5) US EQUITY STRATEGY (SNIDER) – US Equity Outlook: Higher Highs

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