CITIC Securities expects the Federal Reserve to suspend interest rate cuts in January this year

According to a research report by CITIC Securities, the inflation performance in the United States in December 2025 was lukewarm, with core inflation slightly lower than expected and food inflation rising. The research report suggests that the inflation outlook in the United States may ease this year, and the impact of tariffs on prices may gradually weaken. Service inflation may maintain a medium to low growth rate. CITIC Securities expects the Federal Reserve to suspend interest rate cuts in January this year, with two annual rate cuts of 25 basis points each.