Big firms are not throwing a party yet. Law.com spoke with partners at Goodwin and several said the rate cut may take time to jolt the markets, client industries and related deal activity. Venture capital will likely have to wait for some other elements to line up before it takes off, according to Goodwin technology practice partner Joshua Cook. “There’s a hope that the long-term impact of fed rate cuts will unlock liquidity in terms of capital markets,” he wrote in an email. “But that is not going to happen overnight. Given that, I wouldn’t expect any real near-term impact on the early-stage markets. There are probably more impactful global events that will have more immediate impacts—consider various global conflicts or our own presidential election.” Still, with more rate cuts expected toward the end of the year and more in 2025, it could be a big year for many Big Law firms. To find out more about the rate cut impact, read the article on The American Lawyer.