St. Louis Fed President Alberto Musalem has signaled that the Federal Open Market Committee (FOMC) is likely to reduce the federal funds rate by 0.25% during its meeting on October 28–29. This anticipated rate cut is intended to bolster a cooling labor market, as inflation remains slightly above the 2% target. Musalem highlighted that the number of monthly job gains needed to sustain the current unemployment rate has declined, influenced by demographic and immigration trends.