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

Analysts at Citi said they expected the meeting notes to suggest that "the trajectory of interest rates will depend on data released in June, July and August", echoing comments made by Federal Reserve Chairperson Jerome Powell at congressional hearings. Powell laid the groundwork for a possible rate cut at the Fed's September meeting, provided that tariff-induced price increases show no signs of causing sustained inflation and the economy continues to create enough jobs to prevent unemployment from rising too quickly. "The'wait and see 'period could end in late summer," Citi analysts said.