Citigroup Inc (C) Stock Is a Solid Buy Following the Fed's Rate Hike

Analysts say banks are getting diminishing returns on rising interest rates, but Citigroup is well-positioned heading into this month's Comprehensive Capital Analysis and Review stress test. The Federal Reserve raised its benchmark short-term interest rate by 0.25 percent for the second time this year on Wednesday. In addition, the Fed's latest "dot plot" interest rate forecast suggested there could be two additional rate hikes coming before the end of the year.

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