Around Half of Federal Reserve Officials Expect Another Rate Cut in October: Meeting Minutes

Respondents’ expectations for 2027 and beyond were unchanged, the meeting summary stated.

The Federal Reserve in Washington on July 21, 2025. Madalina Kilroy/The Epoch Times

Around half of Federal Reserve officials expect another interest rate cut in October, according to minutes from the September policy meeting, released on Oct. 8.

Results from the Desk survey—a confidential questionnaire conducted ahead of each Federal Open Market Committee (FOMC) meeting—found that “almost all respondents” expected a 25-basis-point interest rate cut by the conclusion of the Sept. 16–17 meeting.