Goldman Sachs Cohen Still Betting on Blue Chips After Fed Decision

Abby Joseph Cohen, president of Goldman Sachs Group’s Global Markets Institute, says investors should not read the Fed decision to leave rates unchanged as a sign to pursue stocks paying the highest dividends.  She said investors should look for blue-chip companies with potential to boost cash flow and return on equity.  Cohen does not see reason to be concerned about U.S. stocks, a view reflected in Goldman Sachs’ global markets view, which was not adjusted in response to the Fed decision. “Far more important is the outlook for economic growth and earnings,” said Cohen, explaining that she’s looking for “companies with good exposure to the United States [that] are selective in terms of where they do business overseas.”