The Federal Reserve announced its interest rate decision, setting the upper limit at 4.25%, in line with expectations and down from the previous 4.50%. Wall Street Journal reporter Nick Timiraos reported that the Fed's announcement at the September FOMC meeting, which included a 25 basis point rate cut, struck a relatively dovish tone. Most officials expected at least three more rate cuts this year. Milan was the lone dissenter at the meeting, advocating for a 50 basis point cut. Seven participants predicted no further rate cuts in 2025, and two predicted only one, but overall, dissent was limited.