Shocking Analysis! Morgan Stanley sharply lowers expectations for the Federal Reserve’s interest rates—2026 may see rates held unchanged! The Fed’s policy shift causes market expectations to change dramatically! Morgan Stanley’s latest report has been released with major impact, stating that the U.S. Federal Reserve is expected to keep interest rates unchanged in 2026; this adjustment breaks the previously expected September and December rate-cut plans! This major change means that in the short term, the Federal Reserve may still maintain a tight monetary policy and will not easily cut rates, and the market will face more uncertainty ahead. While a rate-cut cycle may arrive at the beginning of 2027, although short-term policy changes are suppressed, Morgan Stanley expects the Federal Reserve to cut rates by 25 basis points in January and March 2027, signaling the start of the rate-cut cycle. Financial markets may therefore experience major upheaval, and especially, investment strategies for risk assets (including cryptocurrencies) will face a significant test.