The Outlook for 2026 Is Positive Despite Challenges

Patricia Zobel, head of the Macroeconomic Research and Market Strategy Team, joins NYSE to share her outlook for Federal Reserve policy and economic growth in 2026.

September 24, 2025

Key Takeaways:

The Federal Reserve will steer policy closer to 3 percent next year.
Sticky tariff-related inflation will probably start to decline in 2H26.
Fiscal stimulus and AI capex investments should offset tariff drag.
Global growth is sluggish, but the U.S. economy expected to lead the pack.
Fixed-income yields remain relatively—and attractively—elevated.

Macro Markets Podcast Episode 74: Fed Easing Resumes, Adding Tailwinds and Volatility to

FEATURED PERSPECTIVES

September 23, 2025

Third Quarter 2025 Quarterly Macro Themes

Research spotlight on what’s next.

August 19, 2025

Evaluating Tariff Impacts on Leveraged Credit Earnings Expectations

Identifying opportunities in higher quality leveraged credit.

July 18, 2025

Third Quarter 2025 Fixed-Income Sector Views

Relative value across the fixed-income market.

Tune in to Macro Markets to hear the top minds of Guggenheim Investments offer timely analysis on financial market trends. Guests include portfolio managers, fixed income sector heads, members of the Macroeconomic and Investment Research Group, and more.

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