Citigroup
Q4 2022 Earnings Call
Jan 13, 2023, 11:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello and welcome to Citi's fourth-quarter 2022 earnings review with the chief executive officer, Jane Fraser, and Chief Financial Officer Mark Mason. Today's call will be hosted by Jen Landis, head of Citi investor relations. We ask that you please hold all questions until the completion of the formal remarks, at which time you'll be given instructions for the question-and-answer session. Also, as a reminder, this conference is being recorded today.
If you have any objections, please disconnect at this time. Miss Landis, you may begin.
Jen Landis -- Head of Investor Relations
Thank you, operator. Good morning. And thank you all for joining us. I like to remind you that today's presentation, which is available for download on our website, citigroup.com, may contain forward-looking statements which are based on management's current expectations and are subject to uncertainty and changes in circumstances.
Actual results may differ materially from these statements due to a variety of factors, including those described in our SEC filings. With that, I'll turn it over to Jane.
Jane Fraser -- Chief Executive Officer
Thank you, Jen. And Happy New Year to everyone joining us today. We are very much up and running as we start 2023. Today, I'll share our perspective on the macro environment before recapping our performance in the fourth quarter, and then I shall take a few minutes to reflect on our progress in 2022 and our strategic priorities for the coming year.
The global macro environment played out largely as we anticipated during the second half of last year. As we enter 2023, environments are far better than we all expected, for the time being at least, despite the aggressive tightening by central banks. In Europe, a warmer December reduced the stress on energy supplies, and inflation is beginning to ease off its peak. That said, we still expect softening of economic conditions across the Eurozone this year, given the structural challenges it is till grappling with.
In Asia, while the public health impacts in China are unfortunately likely to be severe, the abrupt end of COVID zero should begin to drive growth and improve sentiment generally. And here at home, the labor market remains strong and holiday spending was better than expected, in part because consumers have been dipping into their savings. The Fed remains resolute in tackling core inflation, however, and therefore, we continue to see the U.S. entering into a mild recession in the second half of the year.