A research note from Citi, via a CNBC report, paints a bleak picture for the economy in the months ahead:

  • economy to worsen in H2 2025
  • “As the full effects of the tariffs come online — likely over the next few months — demand could face a double blow. The tariffs could reduce real purchasing power, and in addition, frontloaded purchases will be ‘paid back‘”
  • “As such, we view the current period as still the ‘calm before the storm,’ and we expect growth in the second half of the year to weaken.”
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September Federal Reserve rate cut?

Source: Forex Live