Citi switches first Fed rate cut call to September from July after hot jobs data
Citi made an adjustment to its forecast for the U.S. Federal Reserve's monetary policy, moving its expectation for the initial rate cut from July to September.
The brokerage and research firm now anticipates a total of 75 basis points in rate reductions to occur in September, November, and December. The household survey, a component of the broader employment report, suggests a less optimistic outlook, with household employment falling by 483,000. Following today's jobs report, Fed swaps no longer fully price in a rate cut before December, according to Bloomberg's data.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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