Citi predicts U.S. plunge towards catastrophic hard landing.

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Brace yourselves for an economic tsunami, as Citi’s dire prophecy forewarns a harrowing plunge into turmoil.

Key Points:

  • Citi’s chief U.S. economist Andrew Hollenhorst predicts a hard landing for the U.S. economy.
  • Forecast includes four Federal Reserve rate cuts due to weakening inflation and labor market.
  • Recent Labor Department’s payroll report shows a significant decline in job growth.
  • Consumer and business surveys signal economic distress and job market pessimism.
  • Mixed economic data confound analysts, leaving little room for optimism.
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Sources:

https://finance.yahoo.com/news/u-economy-headed-hard-landing-222148023.html

Potential Implications:

  • Rising unemployment rates and job insecurity.
  • Decreased consumer spending and economic stagnation.
  • Heightened volatility in financial markets.
  • Increased uncertainty and anxiety among businesses and investors.