Some transactional partners with Atlanta's largest firms say the Federal Reserve's interest rate cut this week was "a step in the right direction" toward increasing demand for M&A but buyers may be waiting for further decreases to further spur dealmaking.

The Fed announced it cut interest rates by 0.5% Wednesday for its first rate cut since March 2020. CNN reported that chairman Jerome Powell told reporters the Fed cut rates to prevent weakness from cropping up in the economy—though it also is not yet satisfied with how far inflation has fallen in recent months.