UBS Global Wealth Management has pushed back its expectations for U.S. Federal Reserve interest rate cuts, forecasting that the central bank will keep rates unchanged through 2026 and begin easing only in 2027, according to a note cited by Reuters.
The wealth manager now expects the Fed to deliver two 25-basis-point rate cuts in March and June 2027. Previously, UBS had projected reductions in December 2026 and March 2027.