Goldman Sachs analysts said they still expect the Fed to cut interest rates by 25 basis points next week, and will cut interest rates at each of the remaining meetings this year (November and December). In contrast, speculation about a larger rate cut by the Fed has resurfaced. Former New York Federal Reserve Bank President Dudley said on Thursday that there is a high probability that the Fed will cut interest rates by 50 basis points at its meeting next week. Investors reacted strongly to news articles in the Financial Times and the Wall Street Journal on Friday, which emphasized that the first rate cut may be a difficult decision for Fed officials, sparking market speculation about a larger rate cut.