Citigroup Inc. CEO Jane Fraser predicted that the United States Federal Reserve will raise interest rates to "just under 5.5%" by May and keep them at that level until the end of 2023. She added that the US economy will enter recession in the second half of the year.

Fraser told Nikkei that the overall inflation in the US has reached its peak, but that "services inflation continues to be painfully persistent." On the subject of cryptocurrencies, she stressed the need for regulation. "Like any financial institution, operators in this field need to be subject to capital, liquidity and risk management standards," Fraser said.