Citigroup CEO Jane Fraser in a written interview with Japan’s Nikkei media (may be gated). It was conducted in December but the Nikkei only just published it over the weekend.
- overall U.S. inflation has peaked, services inflation continues to be painfully persistent.”
- “We see the Fed increasing its terminal rate to just under 5.5% by next May and holding rates at that level through the end of next year”
- “I think a recession is likely to happen in the U.S. sometime in the second half of 2023”