FOMC unanimously agrees inflation is too high and labor market has softened with further risk, but differences exist in weighting these risks and assessing the bigger threat.

FOMC discussions remain thoughtful and respectful despite strong views, with today's decision receiving broad support (9 out of 12) though less consensus than typical.

Upcoming economic data, particularly household survey data on inflation and labor, may be distorted (not just volatile) due to collection gaps in October and half of November, requiring careful and skeptical assessment.