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Stock impact report

Dudley Sees Case for Half-Point Fed Rate Cut Next Week [Yahoo! Finance Canada]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Most Read from Bloomberg “I think there's a strong case for 50,” Dudley said on Friday at a forum organized by The Bretton Woods Committee in Singapore. “I know what I'd be pushing for.” Dudley, who led the New York Fed until 2018, is a Bloomberg Opinion columnist and now chair of the Bretton Woods Committee. The former Fed member cited a slowing US labor market, with risks to jobs greater than lingering challenges to inflation in supporting his call for a half-point reduction. He also highlighted Fed Chairman Jerome Powell's comments at Jackson Hole last month, underscoring not wanting to see further weakness in labor. Dudley's remarks come even as data earlier this week showed core US inflation unexpectedly picked up in August, reinforcing expectations for a quarter-point cut next week. Dudley previously said he expected a 25-basis-point reduction. “The question is why don't you just get started?,” Dudley said. “It's basically up to Chairman Powell to see how much support Show less Read more
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