Major economies have proven surprisingly resilient to sharp interest rate increases from central banks over the last two years.
Citi’s Steven Wieting told CNBC’s “Squawk Box Europe” on Monday that he is optimistic the global economy does not need an “economic collapse” to rein in inflation.
Investors will be closely watching Friday’s personal consumption expenditure inflation figure, the Fed’s preferred metric, for further clues as to when the central bank will begin cutting rates.
Citigroup said it had identified the cause of the flash crash and corrected the error "within minutes."

The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth.

Major economies have proven surprisingly resilient to sharp interest rate increases from central banks over the last two years. This has been particularly evident in the U.S., with a recession thus far avoided and the labor market remaining robust.