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

ChainCatcher news, according to Jinshi reports, Goldman Sachs CFO Denis Coleman believes that the Federal Reserve's recent decision to cut interest rates by 50 basis points, a significant easing move, despite raising concerns among some market analysts about inflation and recession risks, still lays a solid foundation for a soft landing of the economy.

He stated, "This first 50 basis point cut is a clear sign of a new direction. I hope this can boost confidence, lower the cost of capital, and possibly stimulate strategic activity as we approach the end of the year." The Federal Open Market Committee (FOMC) unexpectedly voted to lower its key overnight lending rate to a target range of 4.75% to 5%.