Citi: Economic Data Points to Recession by Summer As Inflation Remains High
- Citi says no soft landing for US economy, signs point to recession by summer
- Economic numbers show high, volatile inflation instead of soft landing
- Retail sales, manufacturing down; jobless claims up signal softening economy
- Higher inflation makes it difficult for Fed to cut rates, raising recession risk
- Citi sees rate cuts in June as economy enters recession, 10-year yield falls
