The Fed's move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman's chief financial officer.

Since the 1970s, the performance of the S&P 500 has been slightly below average in the 12 months after the first interest rate cut of an easing cycle. But the index's performance has been far above average when rates have been lowered outside of a recession.

A handful of Federal Reserve officials on Monday left open the door to additional large interest-rate cuts, noting that current rates still weigh heavily on the US economy.