Jan Hatzius, chief economist and head of global investment research at Goldman Sachs, joins co-hosts Gunjan Banerji and Telis Demos for the show’s last episode of 2024. They talk about Jan’s 2025 economic outlook, the role tariffs could play in the second Trump Administration, and the Federal Reserve’s latest interest-rate decision. They even get into the holiday spirit and chat about gift-giving. A note to listeners: WSJ’s Take On the Week is going to take a break for the holidays and will return on Jan. 5. Happy Holidays! Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the hosts at [email protected] and [email protected]. Further Reading For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard On The Street Column, and WSJ’s Live Markets blog. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.