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

Goldman Sachs economists expect the Federal Reserve to cut interest rates in December, bringing them to just above 3%. The bank's chief economist, Jan Hatzius, warned that the US economic slowdown could 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 weakness in the labor market may be solidifying, thus limiting the impact of moderate economic growth. (Jinshi)