Citigroup economists have revised their forecast for the Federal Reserve's December rate cut from 50 basis points to 25 basis points, aligning with most other institutions. November's employment data was not weak enough to warrant a 50 basis point cut, but a 25 basis point reduction is highly likely, according to economists Andrew Hollenhorst and Veronica Clark. They anticipate a 25 basis point cut in each subsequent meeting, with the final rate ranging between 3% and 3.25%. Previously, banks like Bank of America and JPMorgan had also adjusted their predictions from a 50 basis point cut before the Federal Reserve's decision announcement on November 7th.
Citigroup Revises Fed Rate Cut Expectations to 25 Basis Points
5 days ago
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