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

💀. Pretty spot on imo. pic.twitter.com/ow19VWSsAK

— QE Infinity (@StealthQE4) May 6, 2024

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.

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.