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2026-04-06 12:57:44
[Citigroup Delays Fed Rate Cut Expectations to September] (1) Citigroup has delayed its expectations for the timing of a Federal Reserve rate cut, citing unexpectedly strong U.S. job growth and persistent inflation risks. (2) The bank now expects the Fed to cut rates by a total of 75 basis points in September, October, and December, instead of the previously expected June, July, and September. Citigroup stated that signs of a weakening labor market will still lead to rate cuts starting later this year, but the pace of data suggests the start will be later than expected. (3) U.S. job growth rebounded more than expected in March, but the conflict in Iran poses downside risks to the labor market. Citigroup said that weak hiring will push up the unemployment rate in the summer, similar to the situation in recent years.
