Goldman 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.
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.
His comments come as market participants question whether the U.S. central bank's jumbo rate cut has been delivered in time to bring down inflation without pushing the economy into recession.whether the U.S. central bank's jumbo rate cut has been delivered in time to bring down inflation without pushing the economy into recession.about the outlook for the U.S.
"Right now, that is consensus," Coleman said."It's always a very tricky job to manage economies through transition. But you know, inflation levels are coming down, unemployment is manageable, they're starting to put through the rate cuts and sort of maintain a soft-landing trajectory."Not everyone is convinced that the U.S. economy will continue to hold up over the coming months.
"I'm a long-term optimist. Short term, I'm a little more skeptical than other people that everything's going to be great," JPMorgan Chase CEO "Markets are pricing things like they're going to be great. Put me on the cautious side of that one," he added.28-year-old made 15 offers, went $65,000 over asking price and still got rejected: The housing market is ‘a slap in the face'
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