[Institution: High Uncertainty Remains in the Federal Reserve's Interest Rate Path for the Second Half of 2026] Jin10 News, December 5 – T. Rowe Price's Chief U.S. Economist, Blerina Uruci, pointed out in a report that there remains significant uncertainty regarding the Federal Reserve's monetary policy path for the second half of 2026. 'My biggest divergence with the market lies in the pricing of expectations for rate cuts in the first half of 2026. I believe the current market expectations are overly dovish,' she stated. This depends not only on the evolution of macroeconomic data but also on the reaction mechanism of the Federal Reserve's new leadership. Uruci believes that if inflation starts to accelerate again from this quarter and economic growth remains robust—as she expects—then the Federal Reserve will be unable to fulfill the market's pricing expectations for further easing next year. She noted that the Federal Reserve might pause its rate-cutting pace after the December meeting.