US online personal finance company SoFi Technologies CEO Anthony Noto expects the Federal Reserve to cut interest rates by 75 basis points in 2024. He said this move will be beneficial to the company's loan demand and release investment cash for other companies. Noto said: "It is much better to cut interest rates by 50 basis points now, as it will stimulate more economic activity next year, as companies are now making decisions for next year. If they know that the debt cost on their large balance sheets can be reduced by 50 basis points, or even just get a signal of interest rate cut, they can increase hiring and investment." He said that SoFi is facing the prospect of operating in a "stable" economy and lower interest rates, and lower interest rates have given the company "more freedom" on its balance sheet, with overall loan demand "significantly increasing" in the past 18 months.