Citigroup Pushes Rate Cut Forecast to 2027 After Strong August Jobs Data
Citigroup delayed its forecast for the Federal Reserve’s first 25-basis-point rate cut from October 2026 to June 2027. August nonfarm payrolls rose by 162,000 and the unemployment rate held at 4.1%, lifting odds of a September hike to 60.4%. Markets repriced central bank policy expectations as officials awaited key inflation readings.