Citigroup Pushes Back Fed Rate Cut Forecast to September
Citigroup delayed its Fed rate cut forecast to September citing strong job gains and inflation. The bank now expects 75 basis points of cuts by year-end.
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CITIGROUP INC has revised its forecast for interest rate reductions by the Federal Reserve, pushing the expected timeline back following robust employment gains and persistent inflationary pressures in the United States. The financial institution now expects a total of 75 basis points in cuts to occur in September, October, and December, rather than its previous projection of June, July, and September.
