Executives at the largest U.S. banks are grappling with how to best talk about t...
NEW YORK - Executives at the largest U.S. banks are grappling with how to best talk about the slowing economy and its impact on their businesses as they enter earnings season, people familiar with their thinking told Reuters.
When asked to name the single biggest threat to the U.S. economy at a congressional hearing on Tuesday, Citigroup Inc Chief Executive Officer Michael Corbat answered, “Our ability to talk ourselves into the next recession.” An easy way to avoid endorsing any particular outlook is to defer to what in-house bank economists are predicting, he added.
While policymakers made clear they saw no recession in the next few years, some cautioned incoming data could change their minds on whether the next move should be to raise or lower rates, meeting minutes showed on Wednesday.
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