USD: Fed minutes keep hikes on table – Danske Bank
By FXStreet Insights Team
Date Published: 19 Feb 2026 | Date Modified: 19 Feb 2026
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Danske Bank’s Danske Research Team reports that FOMC minutes showed policymakers generally expect US inflation to keep easing toward 2%, but with a hawkish twist as several participants flagged the possibility of further hikes if inflation stays above target.
Danske Bank’s Danske Research Team reports that FOMC minutes showed policymakers generally expect US inflation to keep easing toward 2%, but with a hawkish twist as several participants flagged the possibility of further hikes if inflation stays above target. The bank expects the Fed to hold rates in March, then deliver cuts in June and September.
Hawkish twist but cuts still projected
"In the US, the minutes of FOMC's January meeting were released after the Fed held rates steady at 3.50%-3.75% at its January meeting."
"The minutes revealed that policymakers generally expect inflation to continue easing towards the 2% target."
"However, the minutes had a hawkish twist as 'several participants' suggested that the bank may need to raise interest rates if inflation stays above the target."
"The Fed's next meeting is in March where we expect the policy rate to remain unchanged followed by cuts in June and September."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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