Citi Chief US Economist Defends Unpopular Fed Rate-Cut Call

Andrew Hollenhorst, Citi's Chief US Economist, is sticking to his controversial prediction that the Federal Reserve will reduce interest rates this year due to a softening labor market and lower oil prices. This stance is out of sync with Wall Street's prevailing expectation for rate hikes, as indicated by bond traders and many of his peers. His argument highlights a divergence in economic perspectives and could influence market sentiment and Fed policy decisions as the year progresses.