Vi e w p o i n t | +1-212-816-0325 andrew.hollenhorst@citi.com 26 Jan 2026 10:16:29 ET │ 9 pages Veronica Clark AC US Economics FOMC Preview – Will Powell still guide toward cuts? CITI'S TAKE The key question on Wednesday at 2PM is how open Chair Powell sounds to further rate cuts. In our base case, Powell will be encouraged by the unemployment rate falling to 4.4%, but will still indicate a meeting-by- meeting approach with further cuts possible. A hawkish risk would be if Powell indicates a cut at the Mar ...