The corticothalamic circuit supports rhythms with timescales that differ by orders of magnitude: sleep spindles, the sigma-band events of non-rapid-eye-movement (NREM) sleep, and infra-slow fluctuations near 0.02Hz that organize when spindles occur. Because the anatomy is the same in both cases, architecture alone cannot determine which rhythm the circuit expresses. We ask whether the temporal structure of the circuit's own feedback can. In a four-population Wilson–Cowan model comprising cortical excitatory and inhibitory populations, thalamic relay cells, and the thalamic reticular nucleus (TRN), we first establish how connectivity controls access to oscillatory behavior, and then introduce temporal coupling as either a weak Gamma distributed delay or a discrete delay. We investigate three distinct connectivity levels: recurrent cortical excitation gates whether the circuit can oscillate at all, the reciprocal relay-TRN pair determines where the oscillation lies and how it is configured, sustained, and terminated, and reticular self-inhibition limits its extent. We then examine how these connectivity-dependent regimes are affected by delayed coupling. Although delay does not change the equilibria themselves, it can substantially alter their stability and the organization of the resulting oscillatory dynamics. Under weak Gamma integration, short delays support spindle-compatible oscillations in the sigma band, while longer delays give rise to a much slower regime near 0.02Hz. The discrete-delay formulation produces a qualitatively different and more complex bifurcation structure. Together, these results show that the dynamics of the corticothalamic circuit depend not only on its connectivity, but also on the temporal organization of interactions within the circuit.