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  • 📰 CITI NOW SEES FED CUTTING BY 25BPS IN SEPTEMBER, FOLLOWED BY 50 BPS CUTS IN NOV AND DEC
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📰 CITI NOW SEES FED CUTTING BY 25BPS IN SEPTEMBER, FOLLOWED BY 50 BPS CUTS IN NOV AND DEC

September 11, 2024
Frank

CITI NOW SEES FED CUTTING BY 25BPS IN SEPTEMBER, FOLLOWED BY 50 BPS CUTS IN NOV AND DEC

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📰 COOLING INFLATION SEEN AS NOT ENOUGH TO SUPPORT 50BP RATE CUT August CPI inflation “appears to be consistent with a slightly below-target,” reading on the Fed’s preferred gauge, the PCE, Capital Economics’ Paul Ashworth says in a note. Monthly CPI was 0.2%, which points to a 0.15% monthly increase on the PCE, he says. August PCE will be released later this month, after next week’s expected interest rate cut. “On balance, we still think the Fed will begin its rate cutting cycle with a more modest” 25-basis-poing cut, he says. He adds that the 3.2% annual core CPI was due mostly to a 5.2% increase in shelter prices, while the three-month annualised core CPI rebounded “only to 2.1% from a weak 1.6%.”
📰 CRYPTO STOCKS FALL TRACKING LOSSES IN BITCOIN AFTER HARRIS-TRUMP PRESIDENTIAL DEBATE COINBASE GLOBAL DOWN 3.4%, BITFARMS DOWN 3.3%, MICROSTRATEGY DOWN 5.1%

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