According to online reports, Brian Jacobsen, chief economist at ANNEX Wealth Management, said the Fed did not add any drama to this week. A 25-basis point rate cut still puts the federal funds rate in a restrictive range, but no longer as strict as it used to be. Although the Fed has said the risks to its employment and inflation targets are roughly balanced, they should probably italicize "roughly". Because the election is influential, we can see a slight improvement in economic growth relative to the Fed's forecast, but inflation has also risen slightly relative to their forecast, which requires a more gradual pace of interest rate cuts. They don't need to retract their plan to cut interest rates, but they don't need to accelerate the pace of interest rates."