FOMC Meeting Takeaways and Key Impacts of the Rate Cut

The long-awaited September Federal Open Market Committee (FOMC) meeting led to the announcement that the Federal Reserve will cut rates by 50 basis points. This decision has large implications across the economy and what’s forecasted for the rest of the year and into 2025. FHLBank Chicago’s in-house economist, James Hotchkiss, shares his key takeaways from the FOMC meeting – and what that means for consumers, financial institutions, and the economy as a whole.