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Citi delays Fed rate-cut forecast to June 2027 after strong jobs data

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  • Citi pushed its next Federal Reserve rate-cut forecast back to June 2027 and retained three cuts for that year.
  • The bank expects 25-basis-point reductions in June, September and December 2027 after U.S. employers added 162,000 jobs in August and unemployment held at 4.1%.
  • Fed funds futures priced a 61% chance of a rate hike at the Fed’s September 15-16 meeting, compared with 52% before the jobs report.
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