Source: CNBC
“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’[s] 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. Some analysts have raised concerns about the outlook for the U.S. economy, warning that similar supersized rate cuts couldn’t avert the recessions of the early 2000s and the global financial crisis. … It was the first time the FOMC had cut by that much since the early days of the coronavirus pandemic, and, before that, the global financial crisis in 2008.” (09/24/24)