Bloomberg Talks Citi CEO Jane Fraser Talks Consumer Spending, Mexico
May 5, 2025
Jane Fraser, CEO of Citigroup, shares insights on the current state of consumer spending, highlighting its surprising resilience despite economic pressures. She expresses a positive view of the Mexican president's trade strategies and discusses the challenges faced by small and mid-sized businesses amid ongoing trade uncertainties. Fraser also addresses Citigroup's strategic direction and commitment to navigating global economic dynamics, suggesting a hopeful outlook for the bank's future.
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Consumer Spending Holds Despite Uncertainty
- Consumer spending is currently holding up despite weaker sentiment due to some pull-forward spending and precautionary moves by corporates.
- Uncertainty about unemployment, inflation, and tariffs remains high and will take time to clarify.
Clients Prepare and Strategize Amid Uncertainty
- Clients are in a wait-and-see mode, preparing for headwinds by strengthening balance sheets and adjusting inventory and investments.
- They are actively rethinking supply chains, hedging, financing, and strategic scenarios in heavy engagement with their banks.
US Remains Vital in Multipolar World
- International investors recognize the US's economic strengths but anticipate an accelerated multipolar world requiring new relationships.
- A multipolar world is seen as a win-win, not zero-sum, with fewer viable alternatives to the US than initially expected.