UChicago's Rajan: Chance of One Fed Cut in 2026

Raghuram Rajan, a prominent economist from the University of Chicago and former IMF chief economist, suggests that the Federal Reserve might only implement a single interest rate cut in 2026. This projection indicates a more hawkish outlook on future monetary policy compared to current market expectations, implying that inflation could remain stubbornly high or economic growth could be more resilient than anticipated, requiring a prolonged period of restrictive rates.