Economic outlook: Hard landing is coming, and the Fed can't stop it

Last year's predictions of a U.S. recession were unfounded, yet this year's expectations of a mere economic slowdown may also miss the mark, according to Citi's chief U.S. economist, Andrew Hollenhorst. He anticipates a "hard landing" with significant economic weakening, prompting the Federal Reserve to cut interest rates four times, more than the market anticipates. Recent job market data and consumer sentiment support his view, suggesting tougher times ahead than many expect.