Goldman Sachs CFO: Fed's first 50 basis point rate cut is a clear sign of new direction

Odaily News Denis Coleman, chief financial officer of Goldman Sachs, believes that the Fed's recent decision to cut interest rates by 50 basis points, a significant rate cut, has laid a good foundation for a soft landing of the economy, despite some market analysts' doubts about inflation and recession risks. He said: "This first 50 basis point rate cut is a clear sign of a new direction. I hope this will increase confidence, reduce capital costs, and may promote strategic activities as we approach the end of the year." The Federal Open Market Committee (FOMC) voted to lower its key overnight lending rate to a target range of 4.75% to 5%, which was unexpected by some economists. (Jinshi)