Citi CEO Says US Will Find It Difficult to Avoid a Recession
- Europe more likely to sink into severe downturn, Fraser says
- Comments add to raft of bank CEOs seeing dark clouds ahead
This article is for subscribers only.
Citigroup Inc. Chief Executive Officer Jane Fraser said the US will have difficulty avoiding a recession, though a severe downturn is not the bank’s “base-case” scenario.
“Europe definitely felt more likely to be heading into a recession than you see in the US,” Fraser, who just returned from a trip to Europe and Asia, said at an investor conference Friday. Still, even in the US, a recession is “not easy to avoid.”