The October FOMC meeting is a bit unusual in the following way: The September SEP showed a split on the committee—a narrow majority who wanted to do more cutting as a risk management exercise but a significant minority that didn't see the need. Normally, the data helps reconcile the divide. But with less of the top-tier data used to refine the outlook in between FOMC meetings, there's less reason for people to change sides https://www.wsj.com/livecoverage/fed-interest-rate-decision-live-10-29-2025/card/what-to-watch-for-as-the-federal-reserve-meets-KtATdiNdlykct8tv77Ce(Nick Timiraos)