Citi slashes US outlook, risks ‘very evident’

William Lee, head of North America economics at Citigroup, said in a research note: “Our outlook has little potential to be surprised on the upside, but the risks are very evident on the downside.”

Lee said the downgrade reflected “increased evidence of the dampening effects from looming uncertainty,” most notably the Federal Reserve’s decision to slow plans for interest rate normalization to two increases this year.

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