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Research
Jan 26, 2026

Preview: Fed To Pause Its Easing Cycle, On Independence and Strong Economy

Nouriel Roubini

Brunello Rosa

Nato Balavadze

In this paper, we discuss:

  • The Fed’s expected decision to hold rates;
  • Chair Powell’s firm defence of Fed independence, limiting dissent to a small dovish minority’
  • Persistent data uncertainty, with shutdown distortions;
  • A data-dependent outlook and expected market reaction.

Download PDF: Fed Preview January 2026

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