[Analyst Says Fed's Divisions Are Apparent, Inflation Remains the Focus] This week, several Federal Reserve officials expressed caution regarding a rate cut in December, citing ongoing concerns about inflation. They also noted that the labor market has stabilized following two rate cuts earlier this year. Market expectations for a December rate cut have dropped to below 50%. Bob Savage, head of macro strategy at NYCB Markets, pointed out that there are divisions within the Federal Reserve, with limited reliable data currently available, and the inflation rate remains at 3%. George Cipolloni, portfolio manager at Mutual Asset Management, stated that inflation is stubborn and insufficiently cooling, while signs of labor market weakness are evident, putting the Federal Reserve in a dilemma.