Citi: Fed minutes may echo Powell's testimony, "wait-and-see" period may end in late summer

Citi analysts said they expect the meeting minutes to suggest "the rate path will be data dependent on data released in June, July and August," consistent with Fed Chairman Powell's comments at his congressional hearing. Powell laid the groundwork for a possible rate cut at the Fed's September meeting, provided that tariff-induced price increases do not show signs of causing sustained inflation and that the economy continues to create enough jobs to prevent the unemployment rate from rising too quickly. "The 'wait-and-see' period is likely to end in late summer," Citi analysts said. (Golden Ten) [Odaily Planet Daily]