The September interest rate cut from the U.S. Federal Reserve and its timeliness drew a mixed bag of reactions from those in the construction industry, according to a recent Equipment World website poll.
The U.S. Federal Reserve lowered the target range for the federal funds rate by 0.25 percentage points to 4-4.25% in mid-September. Contributing factors for the Fed’s rate cut included slowing job gains, an unemployment rate that edged up but remained low, and inflation remaining somewhat elevated.
Since the poll was taken on equipmentworld.com, the Fed lowered rates again October 29 by another 0.25 percentage points to a range of 3.75-4%.
The recent Equipment World website poll, which received 113 responses, ran from mid-September through October asking readers how they felt about the September rate cut’s timing.
The largest percentage of respondents at 44% felt the rate cut had com