---
title: "CICC: The Federal Reserve remains on hold, and the timing of interest rate cuts may be delayed"
description: "CICC Research pointed out that the Federal Reserve's decision to keep interest rates unchanged at the January meeting aligns with market expectations. Governor Waller's dissenting vote may be related "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/274066153.md"
published_at: "2026-01-29T00:51:14.000Z"
---

# CICC: The Federal Reserve remains on hold, and the timing of interest rate cuts may be delayed

> CICC Research pointed out that the Federal Reserve's decision to keep interest rates unchanged at the January meeting aligns with market expectations. Governor Waller's dissenting vote may be related to his desire to be nominated as the next Federal Reserve Chair. The monetary policy statement indicates a stable unemployment rate, and Powell stated that the policy is "in the right place," with a higher threshold for interest rate cuts in the short term. CICC expects the Federal Reserve to cut interest rates twice in 2026, but the first cut may be delayed until the second quarter. The core issues facing the U.S. economy are income distribution imbalance and household affordability pressure, requiring more non-market policies to address voter concerns

CICC Research believes that the Federal Reserve's decision to maintain interest rates at the January meeting aligns with market expectations. Governor Waller cast a dissenting vote, possibly related to his desire to be nominated as the next Federal Reserve Chair. The monetary policy statement indicated that "the unemployment rate has stabilized," and Powell stated that monetary policy is "in a suitable position," suggesting that the threshold for another rate cut in the short term has increased. CICC anticipates that the Federal Reserve may still cut rates twice in 2026, but the first rate cut may be delayed until the second quarter. The core issue of the U.S. economy is not insufficient growth, but rather the imbalance in income distribution and the affordability pressure on ordinary households. Such structural problems cannot be solved solely through monetary policy and may instead prompt the government to adopt more non-market intervention policies in response to voter concerns

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.