Analysts from Citi Research predict that the Federal Reserve will begin a series of significant rate cuts in the coming months, continuing until next summer. In a statement last Friday, the bank cited new signs of economic slowdown and predicted that the Fed would start cutting rates by 25 basis points at each meeting starting from September, with eight cuts in total until July 2025. This would lower the benchmark interest rate by 200 basis points, i.e., from its current level of 5.25%-5.5% to 3.25%-3.5%, and remain unchanged for the rest of 2025.