Nowflation › Release calendar › FOMC decision, September 17, 2025

FOMC decision, September 17, 2025: Cut 25bps — Graded

Countdown

Released Wednesday, September 17, 2025 at 2:00 PM ET. Graded below.

What to watch

Fed funds target range: 4.25%–4.50% (the range set at the previous meeting) going in.
Effective fed funds rate: 4.33% on September 16, 2025 (EFFR, the last reading before the meeting).
Nowflation: no Fed call. The markets are shown with their dates; the decision is graded from the effective rate after the meeting.

The Nowflation call

Nowflation makes no FOMC call. The markets are shown with their dates; the decision is graded from the effective rate after the meeting.

Competing forecasts

No competing forecast on the tape for this release.

Grading

Decision: Cut 25bps (EFFR 4.33% on September 16, 2025 → 4.08% on September 18, 2025; target range 4.00%–4.25%). Source: the effective fed funds rate (EFFR) before vs after the meeting, in 25bp steps.