The US economy is headed for a hard landing this year, and deep rate cuts are the only solution, Citi chief economist says

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• The US economy is headed for an economic hard landing driven by a deteriorating labor market, Citigroup's chief US economist told CNBC.
• "Gradual softening has already started. That tends to snowball," Andrew Hollenhorst said about the job market.
• He's calling for four interest-rate cuts this year at a time when other forecasters are being more conservative.

A deteriorating labor market will be what causes the US economy to quickly turn sour...