Citibank: The possibility of the Federal Reserve skipping a rate cut in November is not high, with each meeting likely to reduce at least 25 basis points
The report from Citigroup analysts stated that despite recent labor market data possibly causing some market participants to reconsider their expectations for a Federal Reserve rate cut, it is unlikely that the Fed will skip a rate cut during its November meeting.
Despite non-farm employment significantly increasing by 254,000 last Friday, higher than the 140,000 economists had predicted, analysts pointed out that "we doubt the strong employment report released last Friday will continue."
Citigroup noted: "A series of previous weak labor market data has led the market to expect the Federal Reserve to cut at least 25 basis points at each meeting and may take larger scale measures of cutting rates by 50 basis points."
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