I doubt it. The recent fed increase of 75 basis points is the continuing trend with no economic data to support a pivot. USD inflation came down marginally because some items, like cars, went down in demand. Food, energy, all up:
https://www.bls.gov/news.release/cpi.nr0.htmFed took an incremental approach in controlling inflation by hardly increasing interest rates in an effort to avoid a recession. They've come to accept that there'll be a recession regardless of their actions, so they're slamming the breaks.
I'd note that the
current state of the economy isn't terrible. The U.S. will experience a recession eventually and that will likely trigger turmoil on the global economic stage, but that isn't here yet. UK Q3 reports show a recession by 0.2%, could be possible things in Europe begin to fall quicker than they do in the western hemisphere. In any event, fed has no reason to change course.