September 2025

This week’s Fed meeting resulted in a much-anticipated interest rate reduction of 25 bps, to a range of 4 percent to 4.25 percent. This move followed a nine-month pause in its rate-cutting cycle, which began a year ago. Historically, equity markets have responded favorably to rate cuts after a pause of six months or more. […]

After a volatile first four months of 2025, it was a good summer for investors to go on vacation, as markets, for the most part, went up weekly. In fact, the major equity indices closed August near their all-time highs. But nothing signals the end of summer quite like those first crisp mornings in New