Central Banks
JPMorgan, Citi Scrap Fed Rate-Cut Bets for July After Jobs Data
- Citi forecasts first cut in September, JPMorgan in November
- Banks responded to stronger-than-anticipated May jobs data
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Economists at Citigroup Inc. and JPMorgan Chase & Co., some of the last holdouts predicting a Federal Reserve interest-rate cut in July, have relented.
After Friday’s release of stronger-than-anticipated May employment data, Citigroup now sees US policymakers making their first move in September, while JPMorgan looks for no change until November.