Check out our Head of Data, Oliver Rust's @orust99, insights ahead of today's FOMC meeting, Sept 17, 2025 The Fed is expected to cut rates by 25 bps today, a move markets have already priced in. If FOMC follows expectations, further market reactions will depend on the forward guidance and signs of potential dissent inside the Federal Open Market Committee. The newly appointed Governor Stephen Miran is expected to argue for a deeper cut. Governor Waller and Bowman are likely to push for more aggressive action as well, while Governors Schmid and Musalem may oppose easing altogether over rising inflation risks. Today’s long-awaited interest rate cuts would be seen by the markets as the start of a broader easing cycle, with additional cuts expected in October and December (according to CME FedWatch). For households and businesses, lower rates mean cheaper borrowing, easier refinancing, and easier credit access. For the government, it helps manage the burden of national debt. However, inflation resulting from tariffs and supply chain disruptions remains a risk to the long-term outlook for rate cuts. Truflation data also showed the US inflation edging back above 2% in August and again in September. For Premium subscribers to Truflation data, we cover every important macro data release with in-depth reports and data-driven macro summaries from our data team. Check out Truflation subscriptions to gain access to our detailed newsletters and reports.