[Nomura Securities Forecast: No Fed Rate Cuts in 2026 as Inflation Rises] According to a report by Jinse Finance on May 22, Nomura Securities predicts that the Federal Reserve will keep interest rates unchanged in 2026 due to rising inflation and reduced support among Fed officials for easing policies, which lowers the likelihood of rate cuts in the short term. In a report released on May 21, Nomura Securities stated: 'The incoming Federal Reserve Chair, Waller, may still have the intention to ease policies, but recent data and statements from Fed officials make us skeptical about whether they can persuade a majority of the Federal Open Market Committee (FOMC) members to support rate cuts.' The brokerage had previously forecasted that the Fed would cut rates by 25 basis points in both September and December of this year.