TechFlow, December 10 — According to Jinshi Data, Ajay Skiba, Head of U.S. Fixed Income at RBC Global Asset Management, said the Federal Reserve may cut interest rates at this meeting, but momentum in the U.S. economy could mean "no further rate cuts are needed." The bank's base case is for a rate cut, but it may be a hawkish cut that signals a subsequent pause in easing. Skiba stated, "In our view, inflation and labor market data should prompt the Fed to stand pat after multiple rate cuts and reassess based on economic developments early next year. Market participants will closely watch dissenting committee members, including those advocating for deeper cuts as well as those who believe no rate cuts are currently needed given the strength of the U.S. economy. For our part, following this rate cut, and as we expect the U.S. economy to accelerate into 2026, the need for further rate cuts may simply not arise. For political reasons—for example, the change in Fed leadership in May—we might see one cut, but economically, there may be no need for another cut for the foreseeable future."
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