Anyone else notice the quiet on new projects?

Hey all, been at Moody's for a few years now in [department]. Lately, it feels like things have really slowed down. Usually, around this time of year, we'd be gearing up for a bunch of new initiatives or at least hearing rumblings. But lately? It's been crickets. My manager is being super cagey when asked about future plans, and a lot of teams seem to be consolidating existing work rather than starting anything fresh. Is anyone else seeing this? It's making me a bit uneasy, honestly. Not hearing any official layoff news, but the lack of forward momentum is definitely noticeable. Wondering if it's just a strategic pause or something more. Curious to hear if others are experiencing the same quiet.