U.S. Fed Delaying Rate Cuts Until June, Survey Shows

The Federal Reserve is expected to delay its next interest rate cut until at least June, according to a Bloomberg survey released on January 23, 2026. Economists revised their outlook due to persistent inflation pressures and a stable job market, signaling a more cautious approach to monetary easing this year. The survey of 75 economists, conducted from January 15-21, found that March rate cuts are no longer anticipated, with June emerging as the new consensus timing. While the second and final cut for 2026 remains projected for September, the Fed's preferred inflation gauge—the core personal consumption expenditures (PCE) price index—is forecast to average 2.7% in 2026, well above the 2% target. Market expectations align, with federal funds futures pricing in a June rate cut, reflecting稳健 economic data and reduced immediate pressure for policy loosening. Political scrutiny over Fed independence also looms amid ongoing investigations and legal challenges.