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BRICS: America’s 4th largest Bank warns of economic crash

Hollenhorst discussed his concerns, specifically regarding the labor market. He noted that the deterioration of the hiring sector could have dire implications for the country. Ultimately, he spoke on why a hard landing may be all but an inevitability for the nation.

The US Dollar Losing Ground Amid BRICS Trade Surge
Source: Watcher.Guru

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Citigroup Warns of Potential Economic Crash

Over the last year, the BRICS economic alliance has observed significant growth. Not only has the bloc embraced its first expansion initiatives since 2001, but it has also embraced alliance-wide economic policies. These infrastructure developments hinder international reliance on the US dollar while promoting local currency use.

Now, the geopolitical shift that the BRICS bloc has orchestrated may be playing a part in America’s 4th largest bank warning of an impending economic crash. Specifically, Citigroup’s Andrew Hollenhorst noted that a hard landing is likely in the cards.

“Firms are hiring at a lower rate. Firms are having workers work less hours,” Hollenshorrts told CNBC. “So this gradual softening has already started. That tends to snowball and end up in something that looks more like a hard landing.”

Source: CNN

 

Moreover, Hollenhorst noted that some reports have expressed a more concerning view of the economic circumstances. Additionally, he noted that a recession could be set to follow any hard landing that takes place. Specifically, he notes that small businesses have displayed the lowest levels of hiring intentions since 2016.

Furthermore, the hiring rate is at its lowest level since 2014, Hollenhorst stated. Therefore, the labor market’s reality coincides with the overall interest rate issue, inflation persists, and optimism does not appear to be a logical response.

All of this will also contend with the ongoing US dollar questions that have arisen in recent months. The BRICS alliance has driven a global shift toward gold and other assets. Therefore, ongoing debt concerns and de-dollarization initiatives will only increase pressure on the US in its most dire state.

Source: Thepressradio.com| Guru

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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