[Russell Investments: Fed Expected to Slow or End Easing Cycle in Early 2026] Paul Eitelman, Chief Investment Strategist at Russell Investments, stated that the Federal Reserve faces a tough decision on Wednesday, likely implementing a 'hawkish' 25 basis point rate cut while maintaining cautious wording on the future path of interest rates. Eitelman expects the Fed to slow or end the easing cycle in early 2026, with a terminal rate of 3.25% to 3.5%. The current 10-year U.S. Treasury yield stands at 4.1%, higher than Russell Investments' fair value estimate, supporting a strategic allocation to duration risk.