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Citigroup CEO Fraser said on Monday that most of the bank's corporate clients can afford the tariffs imposed by the United States. However, she warned that businesses are holding off on investments and hiring until the economic situation becomes clearer. Fraser said at the Milken Institute Global Conference in Los Angeles, "If it's 10%, most of the clients we talk to will say 'yes, we can afford it', but if it's 25%, then it's not certain." She added, "Most companies are in a holding pattern, with some investment spending being paused and decisions on capital expenditures and hiring being postponed. This will have an impact on demand and the economy." Fraser also said that tariffs could affect supply and prices, depending on the level of the tariffs.