TD Securities Changes Fed Call, Rules out Rate Cut in 2026 -- Market Talk

Dow Jones05-15

0511 GMT - TD Securities no longer expects interest-rate cuts by the Federal Reserve in 2026 following a revision of its call for the central bank's rate path, says Oscar Munoz, head of U.S. economics, in a note. "With the Iran conflict in a stalemate, oil prices still high, and supply chains stressed, we no longer see inflation progress as feasible this year," he says. However, additional easing in 2027 is still TD's base case once impact from the Iran conflict subsides. "The next move for the FOMC is still more likely to be a cut than a hike," Munoz says, adding that risks of labor-market acceleration are low, and inflation expectations remain well-anchored. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

May 15, 2026 01:11 ET (05:11 GMT)

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However, additional easing in 2027 is still TD's base case once impact from the Iran conflict subsides. \"The next move for the FOMC is still more likely to be a cut than a hike,\" Munoz says, adding that risks of labor-market acceleration are low, and inflation expectations remain well-anchored. (emese.bartha@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 15, 2026 01:11 ET (05:11 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MINT","symbol_name":"PIMCO Enhanced Short Maturity Exchange-Traded Fund","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2635772682","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2635772682","pubTimestamp":1778821860,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0511 GMT - TD Securities no longer expects interest-rate cuts by the Federal Reserve in 2026 following a revision of its call for the central bank's rate path, says Oscar Munoz, head of U.S. economics, in a note. \"With the Iran conflict in a stalemate, oil prices still high, and supply chains stressed, we no longer see inflation progress as feasible this year,\" he says. 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However, additional easing in 2027 is still TD's base case once impact from the Iran conflict subsides. \"The next move for the FOMC is still more likely to be a cut than a hike,\" Munoz says, adding that risks of labor-market acceleration are low, and inflation expectations remain well-anchored. 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