Citi sees 50 bps in September
Barclay's is out saying they now expect a 50 bp cut by the Fed in July.
Earlier today, Citi said that they see a 50 bp cut in September with a material risk, of a 25 bp cut in July and December.
The Fed last changed policy in December, raising by 25 bps to a target range of 2.25% to 2.5%. The Fed started to raise rates in December 2015 when rates were at 0.25%-0.5%..They have orchestrated 9 hikes of 0.25% since that initial hike. A cut to 2.0% (from 2.5% upper band), would take the level to the level from June 2018.
