The Federal Reserve keeps interest rates unchanged, and financial institutions discuss the future trend of major asset classes.

On the morning of January 29th Beijing time, the latest minutes of the Federal Open Market Committee's monetary policy meeting released by the Federal Reserve showed that the Fed decided to maintain the federal funds rate target range at 3.5% to 3.75%. Looking ahead, institutions believe that there is a high probability of a rate cut by the Fed in 2026. From an asset allocation perspective, the US dollar is expected to continue to be under pressure, and global capital may accelerate towards non-US markets. At the same time, gold, commodities, and Asia-Pacific equity assets are generally favored, while some non-US currencies have also become the focus of institutions.