According to ChainCatcher, 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 it is no longer as strict as before.

Although the Fed said that the risks to its employment and inflation goals are roughly balanced, they should probably put "roughly" in italics. Because the election has an impact, we can see that economic growth has improved slightly relative to the Fed's forecast, but inflation has also risen slightly relative to their forecast, which requires a more gradual pace of rate cuts. They don't need to retract their rate cut plans, but they don't need to speed up the pace of rate cuts either. "