Citigroup CEO says higher rates to moderate growth in U.S., world

NEW YORK (Reuters) – Citigroup CEO Jane Fraser told Congress on Wednesday higher rates to tame inflation are likely to moderate economic growth in the United States and in the rest of the world.

“We are very concerned about the high prices that consumers are facing in America and indeed, around the world,” she said in response to a question during the House of Representatives Financial Services Committee hearing.

(Reporting by Pete Schroeder and Lananh Nguyen)