COINOTAG News notes that market expectations point to a hawkish FOMC tone, with many analysts predicting a January pause in rate cuts. Barclays signals continued tightening bias, while JPMorgan hints at wording that emphasises the uncertainty of future moves.

Observers also foresee dissent in the voting, with BNY Mellon flagging divergent policy stances and JPMorgan forecasting multiple votes against cuts, signaling a split view for 2026 policy directions.

Powell’s communications are expected to stress data-dependency and caution, with Bank of America and Deutsche Bank signaling a high hurdle before further cuts, suggesting a protracted pause into 2026.

Meanwhile, discussions around reserve management operations include expectations that the Fed could begin Treasury purchases of short‑mature securities at about $45 billion monthly from January, though Wells Fargo cautions that a March kickoff may be more probable, affecting liquidity and crypto markets.