25 Jul 2025 17:58:42 ET │ 28 pages V i e w p o i n t | US Economics Weekly Wait-and-see FOMC CITI'S TAKE The FOMC is widely expected to leave policy rates on hold next week, but that decision could provoke dissents from up to two Fed governors. We continue to project policy rate cuts to resume in September. Recently stable jobless claims along with our forecast for 100k new jobs and the unemployment rate rising from 4.1% to a still-low 4.2% will do little to shift the view that top-line labor market numbers ...