[UBS: Revises Previous Outlook, Expects Two Rate Hikes by the Fed in 2026] According to a report by Cailian Press, UBS Wealth Management (CIO) has issued an institutional outlook stating that data released last Friday showed accelerated U.S. job growth. Additionally, the previously released July Personal Consumption Expenditures (PCE) inflation rose 3.7% year-over-year, exceeding expectations, driving the Federal Reserve's stance to become more hawkish. Currently, market pricing implies the probability of a rate hike in September has risen from approximately 50% to about 60%. UBS had previously forecast that interest rates would remain unchanged throughout 2026. However, hawkish signals and rising inflation risks have prompted a revision of this outlook. UBS now expects the Federal Reserve to raise rates twice in 2026, with 25 basis points each in September and December, bringing the federal funds target rate range from the current 3.50-3.75% to 4.00-4.25%.