Monday, May 6, 2024

The U.S. economy is headed for a hard landing, and Fed rate cuts won’t be enough to rescue it, Citi says

Last year's consensus was that the U.S. economy was headed for a recession, but that didn't happen. This year's consensus is that we'll have a soft landing, where the economy slows but won't tip into a recession. That could be wrong too. Doubling down on his contrarian view, Citi chief U.S.