WELLS FARGO EXPECTS 25 BPS FED RATE CUT ON OCT. 29 Wells Fargo expects the FOMC to cut rates by 25 bps at its Oct. 29 meeting, with little change to the policy statement. Chair Powell is likely to emphasize moving toward neutral rates while balancing employment and inflation risks. The bank also expects the Fed to announce updates to its balance sheet runoff, with quantitative tightening ending by December as previously forecast.(*Walter Bloomberg)