Mark Dowding, Chief Investment Officer of Fixed Income at RBC BlueBay, recently shared his insights on the US economy, Federal Reserve interest rates, and his forecast for Treasury yields during an interview with Bloomberg Television.
“I actually think there will be fewer rate cuts than a lot of people think next year,” Dowding said. He expressed skepticism about the pace of expected rate reductions, suggesting that the market’s anticipation may be overly optimistic.
Dowding also commented on the leadership transition at the Federal Reserve, noting that Jerome Powell’s term as Fed Chair expires in May. “I don’t believe whoever is going to succeed Chair Powell is going to come in as a patsy just to deliver what daddy wants,” he stated, implying that the next Fed chair will have independent policies rather than simply following in Powell’s footsteps.
These views provide a nuanced perspective on the future of US monetary policy and its potential impact on fixed income markets.
https://www.bloomberg.com/news/videos/2025-11-12/bluebay-cio-sees-chance-that-fed-won-t-cut-rates-in-2026-video
