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 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.

Hedge funds accelerated their purchases of U.S. tech and media stocks at the fastest rate in four months last week, as per a prime brokerage note from Goldman Sachs (NYSE:GS), Reuters reported on Monday.