Citibank economists Andrew Hollenhorst and Veronica Clark wrote in a research report to clients: Federal Reserve officials kept interest rates unchanged on Wednesday, and Citi still insisted that the Federal Reserve will cut interest rates later this year. The strategist extracted two major signals from Walsh's press conference: First, Walsh said he would evaluate the Federal Reserve's progress in managing inflation by synthesizing extensive data; second, Walsh indicated that the rise in actual yields had the effect of partially tightening the financial environment. Citi still expects the unemployment rate to rise in the coming months, driving the Federal Reserve to cut interest rates in October, December, and January of the following year, respectively.

Citibank economists Andrew Hollenhorst and Veronica Clark wrote in a research report to clients: Federal Reserve officials kept interest rates unchanged on Wednesday, and Citi still insisted that the Federal Reserve will cut interest rates later this year. The strategist extracted two major signals from Walsh's press conference: First, Walsh said he would evaluate the Federal Reserve's progress in managing inflation by synthesizing extensive data; second, Walsh indicated that the rise in actual yields had the effect of partially tightening the financial environment. Citi still expects the unemployment rate to rise in the coming months, driving the Federal Reserve to cut interest rates in October, December, and January of the following year, respectively.