"This ongoing gap between market and Fed expectations means that some risk of upward pressure on mortgage rates remains, but for now, consumers have already benefited from the drop in mortgage rates that has brought mortgage rates below 6.5% for the first time in nearly a year and is likely to continue at least through this week."

FOMC has cut the benchmark interest rates by 25 bps to 4%-4.25%, and has signaled two more rate cuts this year. Asian markets traded higher, while the Indian stock market benchmark indices, Sensex and Nifty 50,

The two‑day meeting of the U.S. Federal Open Market Committee (FOMC) for September 16‑17, 2025 is currently in session. All eyes are on Fed Chair Jerome Powell, who is expected to announce what many believe could be the first interest rate cut of 2025.

Federal Reserve Chair Jerome Powell said that recent data point to less concern that new White House tariffs will lead to a spiral of higher inflation. "The case for there being a persistent inflation outbreak is less,

During his remarks at the White House in July, President Trump sounded off on Jerome Powell over interest rates. Trump stated, "I call him too late."