Jack Straw: Citigroup Expects the Fed to Start Cutting Rates in June

Citigroup strategists expect the Federal Reserve to start cutting interest rates in June, the bank said after the Personal Consumption Expenditures (PCE) for February was released today. Citi’s projections are now more in line with the Federal Reserve’s expectations for the upcoming easing cycle. In a research note, the strategists said they expect Chair Jerome Powell to maintain a dovish stance despite recent hawkish signals from other Fed officials.”  This would not be a surprise to me due to the fact that the lowering of rates would help kick start the new digital economy. MICA is expected to be completed…