Goldman Sachs: Expects the Federal Reserve to cut interest rates in December.

Odaily Planet Daily reports that Goldman Sachs economists expect the Federal Reserve to cut interest rates in December, bringing them down to just above 3%. The bank's chief economist, Jan Hatzius, warned that the US economic slowdown may be more severe than anticipated, necessitating further rate cuts from the Fed. He stated that although the September non-farm payroll report showed 119,000 new jobs added, increasing layoffs suggest that the weakness in the labor market may be solidifying, thus limiting the impact of moderate economic growth. (Jinshi)