Citigroup pushes first Fed rate cut forecast to June 2027
- —Citigroup now expects the first Fed cut in June 2027, not October–December 2026
- —US payrolls rose 162,000 in August versus 53,000 expected; unemployment held at 4.1%
- —The Fed raised rates by 25 bps on September 16, 2026, the first hike since July 2023
- —16 of 18 Fed officials expect at least one more hike by end-2026
Why it matters: A later rate cut implies a prolonged period of high yields, weighing on bitcoin and risk assets.
Source: The Cryptonomist (IT)