With the new year just days away, Goldman Sachs Chief Economist Jan Hatzius, alongside Alec Phillips, David Mericle, and others, outlined key questions and answers on critical themes set to impact markets in 2025. The report covers topics ranging from economic growth and the labor market to Fed policy and Trump's economic and immigration agenda. While the analysts highlight solid economic fundamentals heading into the new year, they caution that uncertainties around policy shifts and geopolitical risks in Trump's second term could weigh on the outlook. 

Hatzius and his team of analysts assert that their note, titled "US Economics Analyst: 10 Questions for 2025," addresses the most critical questions—with answers—clients need to prepare for the new year, especially in an era under Trump, with policies that diverge significantly from those of the Biden-Harris administration.

Here are ten key questions the analysts asked, along with our summarization of each for the sake of time. The full note is available to Pro Sub...