🔴 After the October U.S. CPI report came in in line with expectations and inflationary pressures eased overall, economists at Citigroup still believe the Fed will cut rates by 50 basis points in December.

👈 “While the details are still fluid and less ‘normal,’ easing wage pressures, lower near-term inflation expectations, and continued pressure on housing demand and prices from higher interest rates should make Fed officials feel comfortable that inflation is moderate,” Andrew Hollenhorst wrote in a report Wednesday. Citi’s core forecast still points to a 50 basis point rate cut in December.

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