[Goldman Sachs Chief Economist Expects Fed Rate Cut in December] Goldman Sachs Chief Economist Jan Hatzius expects the Federal Reserve to cut interest rates in December, bringing rates down to slightly above 3%. He warns that the slowdown in the U.S. economy may exceed expectations, necessitating further rate cuts. Although the September non-farm payroll report showed an increase of 119,000 jobs, the rise in layoffs indicates that labor market weakness may be solidifying, limiting the impact of moderate economic growth.