Kasikornbank Research forecasts the US Federal Reserve will keep rates steady at 3.50–3.75% at the September 15–16 FOMC meeting, with August inflation holding at 3.4% YoY. However, the bank expects one more rate hike later in 2026 to manage lingering inflation risks from energy and core inflation, contingent on no significant acceleration in price pressures. This anticipated hike is unlikely to signal a new cycle of sustained rate increases.