The Fed's cautious stance does not change the view of major investment banks: the Fed will cut rates twice in 2026.

According to foreign media reports, the Federal Reserve cautiously cut interest rates by 25 basis points on Wednesday, maintaining its expectation of one rate cut in 2026. Following the decision, most global investment banks reiterated their previous view that the Fed would cut rates twice in 2026, totaling 50 basis points. However, differing opinions exist regarding the timing of the rate cuts: Goldman Sachs, Wells Fargo, and Barclays believe March and June are likely months for rate cuts; Citigroup predicts January and March; Morgan Stanley expects January and April. JPMorgan Chase expects only one rate cut in January, while Standard Chartered maintains its view of no rate cuts next year.