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[Barclays Expects the Federal Reserve to Start Cutting Rates in March 2026] Barclays maintains its forecast that the Federal Reserve will cut rates in 2026, expecting a 25 basis point rate cut in both March and June 2026. Barclays' U.S. economists believe there is a greater risk of a delayed rate cut. The minutes from the Federal Reserve's December policy meeting indicate that the January meeting may maintain the status quo, as the Federal Open Market Committee needs time to assess the impact of recent rate cuts.