Reported 2 days ago
Citigroup has revised its previous forecast of a 50 basis point rate cut by the U.S. Federal Reserve to align with other Wall Street firms expecting a 25 basis point reduction at the December meeting. This change follows the positive jobs data showing a significant rise in nonfarm payrolls, alongside a slight increase in the unemployment rate, indicating a potential easing labor market that supports the Fed's likelihood of lowering interest rates.
Source: YAHOO