23 January 2026 | 6:04PM EST Economics Research US Daily: A Retrospective on 10 Questions for 2025 David Mericle +1(212)357-2619 | david.mericle@gs.com Goldman Sachs & Co. LLC Alec Phillips +1(202)637-3746 | alec.phillips@gs.com Goldman Sachs & Co. LLC Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to www.gs.com/research/hedge.html. c45a43530f604d12bcb9a82b5aa6b9f6 ...