On September 11, regarding the Fed's rate cut, Goldman Sachs Chief Economist Hatzius said on Monday, "I would not rule out the possibility of a 50 basis point rate cut, but a 25 basis point rate cut is more likely." Mr. Hatzius added: "I think there is a good case for the Fed to cut rates by 50 basis points because the federal funds rate is so high right now. It's the highest policy rate in the G10. Despite the fact that the U.S. has actually made more progress on inflation than most G10 economies."