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JPMorgan and Citigroup Abandon July Rate Cut Forecasts!
The post JPMorgan and Citigroup Abandon July Rate Cut Forecasts! appeared on BitcoinEthereumNews.com. Key Points: JPMorgan and Citigroup dropped their forecasts for a July rate cut after Friday’s robust jobs report. Most experts now anticipate one or two Fed rate cuts in September or December. Better-than-expected job growth suggests the economy remains strong, delaying immediate rate cuts. JPMorgan and Citigroup have revised their economic outlooks and are ditching prior views of a July cut for the Federal Reserve. This is in the wake of the release of the robust jobs report last Friday, which has lead to many experts re-calibrating their expectations for monetary policy change. JPM and Citi scrapped their calls for a July rate cut after last Friday’s jobs report. Most sell-side economists and other professional Fed watchers now anticipate one or two rate cuts this year in either September or December pic.twitter.com/x9tUD06Pmi — Nick Timiraos (@NickTimiraos) June 10, 2024 Data released last week showed job growth was much stronger than expected, a sign of a labor market that is far more resilient than had been thought. As such, most sell-side economists and professional Fed watchers are pushing back their respective expectations of a rate cut to much later in the year. The consensus now suggests one or two rate cuts from the Federal Reserve in either September or December. JPMorgan and Citigroup Revise Forecasts The stronger jobs report muddled the calculus for Fed officials. The labor market remains tight, and wage growth is not breaking out, both factors the Fed would like, but the strong job growth in June decreases the immediacy of the need. JPMorgan and Citigroup join a larger trend among banks in re-assessing their outlooks in response to the most recent economic indicators. Both banks have pushed back expectations for rate cuts, in line with the view that the Fed will likely stand pat to gather more…
The post JPMorgan and Citigroup Abandon July Rate Cut Forecasts! appeared on BitcoinEthereumNews.com.
Key Points: JPMorgan and Citigroup dropped their forecasts for a July rate cut after Friday’s robust jobs report. Most experts now anticipate one or two Fed rate cuts in September or December. Better-than-expected job growth suggests the economy remains strong, delaying immediate rate cuts. JPMorgan and Citigroup have revised their economic outlooks and are ditching prior views of a July cut for the Federal Reserve. This is in the wake of the release of the robust jobs report last Friday, which has lead to many experts re-calibrating their expectations for monetary policy change. JPM and Citi scrapped their calls for a July rate cut after last Friday’s jobs report. Most sell-side economists and other professional Fed watchers now anticipate one or two rate cuts this year in either September or December pic.twitter.com/x9tUD06Pmi — Nick Timiraos (@NickTimiraos) June 10, 2024 Data released last week showed job growth was much stronger than expected, a sign of a labor market that is far more resilient than had been thought. As such, most sell-side economists and professional Fed watchers are pushing back their respective expectations of a rate cut to much later in the year. The consensus now suggests one or two rate cuts from the Federal Reserve in either September or December. JPMorgan and Citigroup Revise Forecasts The stronger jobs report muddled the calculus for Fed officials. The labor market remains tight, and wage growth is not breaking out, both factors the Fed would like, but the strong job growth in June decreases the immediacy of the need. JPMorgan and Citigroup join a larger trend among banks in re-assessing their outlooks in response to the most recent economic indicators. Both banks have pushed back expectations for rate cuts, in line with the view that the Fed will likely stand pat to gather more…
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