A New Rate-Cut Cycle Could Be Fuel on the Stock Market Fire NYT | Top Stories By: Jeff Sommer 18 September 2025 at 17:04 But with the market already booming and the Federal Reserve under presidential pressure, a new cycle of lower rates could pour fuel onto a fire, our columnist says. © Richard Drew/Associated PressThe bulk of the historical data suggests that an interest-rate cut by the Federal Reserve at a market peak has usually led to even more market gains.