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Published Jan 17, 2024 08:59AM ET
© Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo
(Reuters) – Citigroup on Wednesday forecast the U.S. Federal Reserve to deliver a 25 basis-point rate cut in June compared to a prior estimate of July.
This would take the policy rate to 4.25% compared to a prior forecast of 4.5%.
The brokerage now expects a 125 bps of total rate cuts in 2024 compared to its earlier forecast of 100 bps.
Citigroup sees Fed’s first rate cut in June