Panson macroeconomists Samuel Toms and Oliver Allen said Fed officials were on a communication break ahead of a policy decision due this week, but they were expected to make a unanimous decision to cut interest rates by 25 basis points. Fed Governor Paul Waller said before the meeting that he favored a 25 basis point cut, the clearest policy commentary among committee members. Economists expect a pause in rate cuts to be the Fed's default option at the January meeting, given that inflation is stubbornly persistently above target.