Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
CITI CFO Foresees Slight Slowdown in Business Activity in Late 2025 but Says Recession Chance Has Decreased. 📉 He Expects Consumer Spending to Cool as Tariffs Take Effect and Notes Tariffs Have Less Impact on Inflation. 📊
Citi CFO on U.S. Consumer Spending & Tariffs Mark Mason, Citi’s Chief Financial Officer, stated that consumer spending is likely to slow as tariffs begin to take effect. He explained that while households have shown resilience—supported by solid wage growth and low
CITI CFO EXPECTS SOFTER ACTIVITY IN SECOND HALF OF 2025 BUT RECESSION RISK HAS FALLEN || ON CONSUMER SPENDING SAYS EXPECTS FURTHER COOLING AS TARIFFS COME THROUGH || SAYS INFLATION HAS SHOWN LIMITED EFFECT FROM TARIFFS
Top finance executives at two of the largest U.S. banks signaled that the government’s new 145% tariff on Chinese imports is beginning to weigh on economic activity, even as broader recession fears fade. Citigroup Chief Financial Officer Mark Mason said consumer spending is likely to cool in the second half of 2025 as the higher levies filter through the economy. While households remain supported by solid wage growth and low unemployment, Mason expects "softer activity" later this year and noted that the tariffs so far have had only a limited effect on overall inflation. Wells Fargo’s finance chief separately reported that corporate clients are turning more cautious about borrowing and investment decisions because of the trade measures, echoing concerns about a gradual slowdown rather than an abrupt contraction.
