-- Citigroup Inc . dialed back expectations for Federal Reserve interest-rate reductions on Friday, while remaining among the most dovish forecasters on Wall Street.US Economy Slows and Inflation Jumps, Damping Soft-Landing Hopes
The US central bank’s rate-setting Federal Open Market Committee meets next week for the first time since March, when its members published forecasts showing a median expectation for three quarter-point rate cuts by year-end. Since then, however, several inflation readings have failed to show continued progress. The FOMC’s subsequent meetings are in June and July.
Personal income and spending data for March released Friday included price deflators that are the Fed’s preferred gauge of inflation. The core deflator, which excludes food and energy, rose 0.32% from February — compared with Citigroup’s 0.26% forecast — and 2.8% from a year earlier.
Source: Loan Digest (loandigest.net)
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