---
title: "Aberdeen: It is expected that Powell will maintain interest rates unchanged during the remainder of his term, and the policy path of the new Federal Reserve Chairman will be more accommodative"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/274108366.md"
description: "Ray Sharma-Ong of Aberdeen Investment expects that the Federal Reserve will keep interest rates unchanged for the remainder of Powell's term, and that the policies of the new Federal Reserve Chair will be more accommodative. He mentioned that the market anticipates that the appointment of a dovish chair will lead to a steeper U.S. Treasury yield curve, and global interest rate dynamics will support long-term rates. The overall upside potential for stocks may decrease, and the market will refocus on fundamentals, favoring industries with clear profit prospects, particularly in artificial intelligence and technology"
datetime: "2026-01-29T08:35:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/274108366.md)
  - [en](https://longbridge.com/en/news/274108366.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/274108366.md)
---

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# Aberdeen: It is expected that Powell will maintain interest rates unchanged during the remainder of his term, and the policy path of the new Federal Reserve Chairman will be more accommodative

According to the Zhitong Finance APP, Ray Sharma-Ong, Global Deputy Head of Multi-Asset Client Solutions at abrdn, expects that the Federal Reserve will maintain interest rates unchanged during Powell's remaining term, and anticipates that the policy path under the new Federal Reserve Chair will be more accommodative than currently predicted. U.S. Treasury Secretary Scott Bessent reiterated the government's commitment to a strong dollar policy and clearly downplayed the possibility of intervening in the foreign exchange market to support the yen. He expects this will stabilize the dollar and eliminate previous speculative behavior leaning towards dollar depreciation.

Ray Sharma-Ong mentioned that regarding interest rates, as the market anticipates a dovish Federal Reserve Chair to take office soon, there is room for the U.S. Treasury yield curve to steepen, and the dynamics of global interest rates will support its long-end rates. These factors indicate that the correlation between assets may decrease, leading to reduced overall upside potential for stocks. In this environment, the market is expected to refocus on fundamentals, favoring industries with clear profit prospects, where artificial intelligence and the technology ecosystem continue to maintain structural advantages. Suppliers of components supporting capital expenditure growth related to artificial intelligence—especially in the infrastructure, semiconductor, and equipment sectors—are expected to continue benefiting strategically.

He continued that in the Asia region, markets benefiting from the aforementioned structural trends are preferred, including Taiwan's semiconductor manufacturing and advanced packaging; South Korea's leading position in high-bandwidth memory (HBM) and memory sectors; Singapore's regional data center expansion; and Japan's precision machinery and semiconductor equipment

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