Fed Review: FOMC Cuts Rates by 25bps, And Foresees Further Easing Ahead

by Brunello Rosa and Nato Balavadze

In this article, we discuss:

• The Fed’s assessment of the US economy, whose growth has “moderated”;
• The rate cut decided today, with Miran’s dissent for a larger 50bps cut, and the upcoming further easing;
• The downward shift in the DOT PLOT by 25bps, with 2 more cuts expected this year, one in 2026 and one in 2027. 
• The muted market reaction.

Download PDF: Fed Review September 2025