Citi sees the NFP coming in at 125,000, prompting a 50bp rate cut from Fed
Investing.com -- Citi analysts said in a note to clients on Tuesday that they project, for the upcoming Non-Farm Payroll , 125,000 new jobs and an unemployment rate of 4.3%.
The note indicates that if the unemployment rate drops slightly to 4.2%, the Fed might opt for a smaller, 25 basis point cut, though this would not alter Citi's outlook for a continued loosening in the labor market and a broader economic slowdown. For instance, they believe that if the unemployment rate holds steady at 4.3% while payrolls are healthier at around 175,000, the Fed is still likely to implement a 50 basis point rate cut.
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