Citi Global Wealth Investments released its Mid-Year Outlook 2022 report Thursday US time.
Link here for a summary, but in very brief on CPI:
- Citi believes the worst of U.S. consumer price inflation has already passed, with a decline to around 3.5% likely in 2023.
- “Across developed economies, consumer prices have been rising faster than they have in decades. In response, policymakers are withdrawing the fiscal and monetary boost they provided when COVID struck,” said David Bailin, Chief Investment Officer and Global Head of Investments for Citi Global Wealth. “The U.S. Federal Reserve is leading the way, signaling some of the biggest annual interest rate rises in its history. We think that the Fed’s actions will determine if there is going to be a recession or sustained growth. The economy can stand higher rates, but not an abrupt withdrawal of liquidity.”
The latest update on US inflation data is due at 1230 GMT on 10 June 2022:
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Oil prices might disagree with CIT:
