Citigroup delays Fed rate-cut forecast to 2027 after strong U.S. jobs report - The Daily News | Texas' Oldest Newspaper

Sept 4 (Reuters) - Citigroup on Friday pushed back its forecast for the Federal Reserve's next interest-rate cut to June 2027 after a stronger-than-expected U.S. jobs report reinforced views that the labor market remains resilient and reduced the need for near-term monetary easing. The brokerage now expects 25-basis-point reductions in June, September and December next year, abandoning its previous call for cuts in October and December 2026 and January 2027. The move followed data that showed U.S. employers added 162,000 jobs in August, comfortably ahead of expectations, while the unemployment rate held steady at 4.1%.