Citi: The Federal Reserve is expected to cut interest rates continuously starting from September, with a cumulative cut of 200 basis points

Analysts at Citi Research expect the Federal Reserve to begin aggressive rate cuts within months and continue through next summer. In a note last Friday, the bank cited new signs of an economic slowdown and said the Fed will cut rates by 25 basis points at each meeting starting in September, for a total of eight cuts until July 2025, which would reduce the benchmark rate by 200 basis points, from 5.25%-5.5% now to 3.25%-3.5%, and keep it unchanged for the rest of 2025. (Jinshi)