Steve Englander, head of G10 foreign exchange research and North American macro research at Standard Chartered Bank's Global Research Department, said that the Fed's meeting this week will leave him with an opportunity to wait and see based on data one or two more times. In a note, he said that inflation seems to be slowing faster than expected at the September meeting, but the labor market is gradually slowing down. The FOMC is in no hurry to make promises about the timing of future interest rate cuts. This may disappoint the fixed income market. After the labor data was released on Friday, the fixed income market expects interest rates to be cut by 11 basis points by the March meeting next year and 26 basis points by the May meeting next year.