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Fortune

Luisa Beltran

Citi CEO Jane Fraser ‘certainly’ sees a slowdown, but big banks remain in ‘very strong health’

Jane Fraser Citi Citigroup Fortune Alan Murray United States China JPMorgan

Jane Fraser, Citigroup CEO, speaks to Fortune's Alan Murray at the Fortune CEO Initiative (Credit: Rebecca Greenfield for Fortune)

Citigroup CEO Jane Fraser said she expects a slowdown for the U.S. economy but stopped short of predicting an outright recession.

Fraser, who spoke Wednesday at the Fortune CEO Initiative, described the current U.S. labor market as very tight. In May, the nation’s employers exceeded expectations when they added 339,000 jobs while the unemployment rate rose to 3.7%, from a five-decade low of 3.4% in April, Fortune reported.

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