A rate cut in June is still on tap because the job market is weakening, Citi economist says

• It's still likely the Fed will issue its first rate cut this June, Citi economist Veronica Clark said.
• That's because central bankers will need to support a weakening labor market, Clark told Yahoo Finance.
• The job market has shown signs of weakening in some sectors, like manufacturing.

The Federal Reserve is still likely to cut rates in June in order to prop up the labor market amid a slowdown in hiring, according to Citi economist Veronica Clark.