CITI Calls For Full Percentage Cut By Thanksgiving

As More Temporary Lay-offs Become Permanent

Note: Citi was first to call for more cuts about a month ago covered here in Citi Drops Rate Cut Bomb. GS ( 3 Cuts are coming) and JPM (immediate cuts with risk of bigger) followed last week in their own reports.

Now CITI is getting even more aggressive in the short term. This was hinted at in Friday’s *Panic Begins… end of day update where they said:

We now expect the Fed to start the cutting cycle with 50bp rate cuts in September and November, followed by 25bp cuts at each subsequent meeting until reaching a policy rate of 3- 3.25% by mid-2025

Here is that full analysis

[Comments in brackets]

[Business Professionals are Getting Fired, Manufacturing is not picking up steam]