Market expectations for the path of the Fed Funds Rate in 2026... -Jan 2026: Hold -Mar 2026: 25 bps cut to 3.25-3.50% -Apr 2026: Hold -Jun 2026: Hold -Jul 2026: 25 bps cut to 3.00-3.25% -Sep 2026: Hold -Oct 2026: Hold -Dec 2026: Hold