Citigroup Analysts Predict Federal Reserve Unlikely to Cut Rates in November

According to Odaily, Citigroup analysts have indicated that despite recent labor market data potentially causing some market participants to reconsider their expectations for Federal Reserve rate cuts, it is unlikely that the Fed will skip a rate cut during its November meeting. Last Friday's non-farm payrolls saw a significant increase of 254,000, surpassing economists' expectations of 140,000. However, analysts noted, 'We suspect that the strong employment report released last Friday may not be sustainable.' Citigroup highlighted, 'A series of weak labor market data previously led the market to expect the Federal Reserve to cut rates by at least 25 basis points at each meeting, and possibly take more substantial measures with a 50 basis point cut.'