Citigroup economists have revised their outlook for the Federal Reserve's monetary policy, predicting a more aggressive approach. In a recent note, the bank's economists stated that they expect the Fed to cut rates by 25 basis points at each meeting through July 2023, bringing the fed funds rate to 3.00-3.25%. This forecast is more dovish than the current market consensus, which anticipates approximately four quarter-point cuts. Citigroup economists believe that a loosening labor market, declining service sector inflation pressures, and global growth concerns will contribute to lower commodity prices, leading the Fed to adopt a more accommodative stance.