"Federal Reserve Messenger": Lack of Key Data at the Fed's October Meeting Prompted Members to Change Stance

Nick Timiraos, the Fed's mouthpiece, noted that the October FOMC meeting differed in several ways: the September dot plot revealed divisions within the committee: most favored continuing rate cuts as a risk management tool, but a significant number believed no cuts were necessary. Typically, data helps reconcile these differences. However, with less high-level data available between FOMC meetings to refine the outlook, members had less reason to change their stance. (Jinshi)