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Fortune

Eva Roytburg

The Fed's cut was 'more hawkish than anticipated,' Moody's Zandi says — and warns it won't be enough to stave off a looming jobs recession

US Federal Reserve Mark Zandi Stephen Miran Jerome Powell the White House

Jerome Powell, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Sept. 17, 2025. (Credit: Kent Nishimura/Bloomberg via Getty Images)

Federal Reserve policymakers delivered a quarter-point interest-rate cut this week, but leading economist Mark Zandi warns the move carries a more hawkish signal than markets had anticipated.

Speaking to Fortune after the announcement, Zandi described the Fed’s messaging as tightrope-walking between economic risks—aiming to manage dangers to job growth while signaling no rush into further cuts.

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