The forecast, based on the "Open Market Operations Department" survey as well as options pricing, implies two more rate cuts next year;

- current indicators suggest moderate economic growth;
- the unemployment rate has slightly increased, and employment growth has slowed by September;
- inflation has risen compared to the beginning of the year and remains somewhat elevated;
- uncertainty regarding economic prospects remains high;
- risks of employment decline have increased in recent months;
- the Federal Reserve is firmly committed to supporting maximum employment and returning inflation to the 2% target;
- the unemployment rate will gradually decrease after this year and reach a level slightly below the employees' estimated natural unemployment rate by 2027.

Bloomberg: The Federal Reserve meeting minutes show that most officials expect further rate cuts.