JPMorgan Chase CEO Jamie Dimon suggests the half-point interest-rate cut is “a minor thing” that Wall Street — not Main Street — is obsessing over.

The final rate-setting meeting before the November election brought the first cut since March 2020, a move likely to prove popular for everyday Americans.

Over the past few years, elevated mortgage rates and sky-high housing prices have contributed to a lack of home affordability.

The Federal Reserve announced an interest rate policy decision to cut interest rates by 0.5% on September 18. This decision was accompanied by FOMC member forecasts.

JPMorgan Chase (JPM) chief Jamie Dimon thinks the Federal Reserve’s first interest rate cut in over four years was “a minor kind of thing.”