Barclays(US:BCS) Xin Hua Cai Jing·2025-10-28 18:46Core Viewpoint - Barclays economists predict that the Federal Reserve will announce a 25 basis point rate cut in the upcoming monetary policy meeting, aligning with market expectations. However, this decision may reveal increasing policy divergence within the Federal Open Market Committee (FOMC) compared to the consensus seen in the September meeting [1]. Group 1 - In the September meeting, only one member, Fed Governor Milan, voted against the consensus, advocating for a more aggressive rate cut [1]. - The October meeting may witness "dual dissent," with Milan potentially opposing the 25 basis point cut again, while some regional Fed presidents may advocate for maintaining the current rates, indicating hawkish dissent [1]. - Barclays anticipates that hawkish members may support the rate cut, but would not be surprised if Kansas City Fed President Schmid or Richmond Fed President Musalem votes against the cut, favoring a hold on rates [1].