Why JPMorgan now sees zero rate cuts in 2026 — and a hike coming the following year

Hu Yousong/Xinhua via Getty Images

• JPMorgan predicts no rate cuts in 2026 amid strong US economic growth.
• The bank said job and GDP growth, plus core CPI above 3%, will challenge expectations for rate cuts.
• Markets are still expecting two rate cuts in 2026.

Investors have come to expect two 25-basis-point rate cuts from the Federal Reserve in 2026, but JPMorgan is now saying they won't get any.

In a January 9 note to clients, the bank said the US economy...