Andrew Hollenhorst, chief U.S. economist at Citi, predicted on CNBC Thursday that the American economy is headed for a recession, citing inflation and credit card delinquencies. The Consumer Price Index rose by 3.1% year-over-year in January, exceeding a predicted 2.9%, while credit card delinquencies of 90 days or more reached 6.36% in the fourth quarter of 2023. Hollenhorst told CNBC host Sara Eisen that he did not believe that data pointed to a “soft landing” for the U.S. economy. Read: Montana Republican Rep. Matt Rosendale Drops Out Of Senate Race Just Days After Entering “There’s this ve…
