The FOMC gave the market what it wanted: a fifty-basis point interest rate cut and an outlook for aggressive cuts to continue through the end of next year. As good as the news is, the outcome is that there is as much uncertainty about the future as there has been all year and a rising risk of heightened stock market volatility.

The Federal Reserve announced an interest rate policy decision to cut interest rates by 0.5% on September 18. This decision was accompanied by FOMC member forecasts.