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Cut 25bps, But Hawkish in 2026: Will Market Pullback Last?
Fed lowered fund rate from 3.75%–4.00% to 3.50%–3.75%, marking the sixth rate cut since last year and the third meeting-based cut this year.
The newly released Dot Plot reveals wide disagreement among the 19 voting and non-voting officials regarding the 2026 rate path:
7 officials expect no further cuts in 2026.
Others project cumulative cuts of 25, 50, 75, 100, or even 150 basis points.
Despite the dispersion, the median still points to just one 25-bp cut in 2026.
So—hawkish or dovish?
What’s your take on this rate cut? And do you think risk assets can continue to rise from here?
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