Barclays's American economists said in a report that the bank maintained its expectations that the Federal Reserve would cut interest rates twice in 2026, cutting interest rates by 25 basis points each in March and June, respectively. They believe that the risk surrounding this baseline forecast is biased towards delaying interest rate cuts. According to these economists, the minutes of the Federal Reserve's December policy meeting are in line with Barclays's expectations that the January meeting will stand still, “because the US Federal Open Market Committee will need time to assess the impact of recent interest rate cuts.”

Barclays's American economists said in a report that the bank maintained its expectations that the Federal Reserve would cut interest rates twice in 2026, cutting interest rates by 25 basis points each in March and June, respectively. They believe that the risk surrounding this baseline forecast is biased towards delaying interest rate cuts. According to these economists, the minutes of the Federal Reserve's December policy meeting are in line with Barclays's expectations that the January meeting will stand still, “because the US Federal Open Market Committee will need time to assess the impact of recent interest rate cuts.”