The Federal Reserve's case on whether or not to cut interest rates in 2024 is still not settled, leading many Wall Street analysts to adjust their forecasts for a market (^DJI, ^IXIC, ^GSPC) coming to terms with a revised rate reality. Citigroup strategists, however, have stayed firm in their beliefs that there will be rate cuts as early as June or July.

Citi Economist Veronica Clark joins Market Domination to discuss why Citi's Fed forecasts aren't budging.

Clark states plainly: "We have a base case for June still and it very well could be July, but I think the fundamental difference for us is that we really do see this Fed as having a more dovish reaction function. It's not that we see some magical slowing in the inflation data, if anything we think inflation is pretty sticky, but we think this is a Fed that is looking at some of this labor market data, even survey data that we had this morning and the PMI services employment number, and really getting worried that we might be entering a weaker labor market and really wants to prevent that."

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino