Clocktower Chief Strategist Kevin Wang: The macro focus in 2026 will be on inflation, with vigilance against the risk of a shift in monetary policy expectations.

Clocktower's chief strategist Wang Kaewen stated that the core macroeconomic contradiction globally in 2026 lies in the trend of inflation. Currently, the inflation level in the United States is still significantly higher than the policy target and pressure remains, while the market has already factored in multiple rate cuts. He warned that investors should be prepared for the possibility of fewer rate cuts by the Federal Reserve next year than currently expected. He emphasized that if inflation rises to above 3.5% next year, there is a possibility that the Federal Reserve may shift towards raising interest rates.