Denis Coleman, Chief Financial Officer at Goldman Sachs, believes the Federal Reserve's 50 basis point interest rate cut puts the US economy on track for a soft landing. He highlights the move as a clear signal of a new direction and expects it to unlock confidence and reduce the cost of capital.
The Federal Reserve 's move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing , according to Goldman Sachs ' chief financial officer.
In a decision that came as a surprise to some economists, the rate-setting Federal Open Market Committee on Wednesday voted to reduce its benchmark overnight borrowing rate by half a percentage point, or 50 basis points, to a targeted rate of 4.75% to 5%. One basis point equals 0.01%.the FOMC had cut by that much since the early days of the coronavirus pandemic, and, before that, the global financial crisis in 2008.
Federal Reserve Interest Rates Soft Landing Goldman Sachs Economy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs CFO Sees Soft Landing for US Economy Following Fed Rate CutGoldman Sachs Chief Financial Officer Denis Coleman believes the Federal Reserve's recent 50 basis point interest rate cut signals a new direction for the U.S. economy, potentially paving the way for a soft landing. His comments come amidst market uncertainty about whether the central bank's move will effectively curb inflation without triggering a recession.
Read more »
Goldman Sachs still sees 25 basis point Fed cut next weekGoldman Sachs still sees 25 basis point Fed cut next week
Read more »
Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer businessIn late 2022, Goldman Sachs began to pivot away from its consumer operations, beginning a series of writedowns related to selling chunks of the business.
Read more »
Goldman Sachs stock drops 4% as CEO David Solomon warns of weak tradingThe price of a share in the bank fell by just over $19 the day after its chief executive spoke to an investor conference in New York.
Read more »
Goldman Sachs Says Trump Win Would Lead to Economic Downturn Goldman Sachs predicted that a Donald Trump win in November would result in a slow in GDP growth by 2026.
Read more »
Goldman Sachs just refreshed its conviction lists of global stocks — giving one 64% upsideCNBC Pro looks at three additions to Goldman's 'directors' cut' of stocks from Asia-Pacific and Europe.
Read more »