Good morning. CFOs have navigated economic uncertainty, inflation, and high interest rates over the past few years. But the Federal Reserve announced last week a 50 basis point cut to its benchmark interest rate, which is the first rate cut in four years. And big bank CFOs are optimistic about this move.

The Federal Reserve’s decision to slash interest rates by a half point last week set the economy up to avoid a recession, according to Goldman Sachs (GS) chief financial officer Denis Coleman.

The Fed's move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman's chief financial officer.

Huge increases in wealth and debt levels prevents the Fed from cutting rates as much as it wants, Larry Summers said.