Leading economists have responded to the Federal Reserve's decision to cut interest rates by 25 basis points, with a majority of the committee now signaling two additional cuts by the end of the year. Economist Mohamed El-Erian noted that all but one FOMC member supported the cut, with one member dissenting in favor of a 50 bps cut. The rationale for the rate cut is attributed to a perceived shift in the "balance of risks," as the Fed acknowledges increased downside risks to employment. Inflation, while elevated, is seen as less concerning. The decision has received mixed reactions, with some praising the central bank's independence and others warning of challenges ahead.