The U.S. economy is headed for a hard landing, and Fed rate cuts won't be enough to rescue it, Citi says

Citi's chief U.S. economist, Andrew Hollenhorst, predicts a hard landing for the U.S. economy, contrary to the popular belief of a soft landing. Despite recent job growth, Hollenhorst highlights underlying weaknesses in the labor market and expects the Federal Reserve to cut rates four times this year, more than Wall Street's expectations of one or two cuts. He believes these measures may not suffice to prevent a hard landing, as historical trends suggest monetary policy adjustments typically lag behind economic needs.