The Federal Open Market Committee (FOMC) is expected to cut the federal funds rate by 25 basis points at its October 28–29 meeting, lowering the target to 3.75%-4.00%. The move would extend the September 2025 rate cut, signaling continued monetary easing as labor markets soften and inflation moderates. Futures data suggest more cuts in December and early 2026, though some officials caution against deeper easing amid lingering price stability risks.