Citigroup CEO Jane Fraser warns that a recession is more likely in Europe than in the U.S. Nonetheless, she stressed that it is not easy for the U.S. to avoid a recession. Citigroup’s CEO on Global Recession Citigroup CEO Jane Fraser warned about the health of the global economy Friday, Reuters reported. Citi is the third-largest and most globally-focused U.S. bank. Speaking at an investor conference in New York, she talked about how “the three Rs” are affecting the global economy, stating: “It’s rates, it’s Russia, and it’s recession.” Fraser explained that Europe’s energy problems are “really having an impact on a number of companies in certain industries that are not even competitive right now.” She added that “some of them are shutting down operations … because of the cost of electricity and the cost of energy.” The Citi executive opined: Europe definitely felt more likely to be heading into a recession than you see in the U.S. Major central banks are already planning inte
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