Donald Trump’s win in the White House race means the Fed will likely cut rates less than expected over the next 13 months, economists told MarketWatch’s Greg Robb on Wednesday.

David Seif, Nomura’s chief developed markets economist, said he now expects only a quarter-point rate cut in 2025. “We expect some additional easing in 2026, but we have raised our final interest rate forecast to 3.625% from 3.125%,” Seif said. .