Recessionary fears are top of mind for the nation's CEOs, many of whom are positioning their businesses for a sharper downturn.
Washington Crossing Advisors senior portfolio manager Kevin Caron discusses the Fed's inflation strategy and addresses concerns over the financial health of Credit Suisse on"The Claman Countdown."
America’s CEOs are becoming an increasingly more pessimistic group as inflation rages and as the Federal Reserve keeps hiking interest rates, according to a new survey by KPMG. "Ninety-one percent of CEOs surveyed believe there will be a recession in the next 12 months. Only one-third of those CEOs believe it will be a short and mild recession. Some CEOs are considering workforce reductions, roughly half of the CEOs are thinking about whether they need to reduce workforce," KPMG CEO Paul Knopp told FOX Business.
Knopp also explained that of the 400 large company C Suite executives surveyed, many believe the Fed has a tougher balancing act in controlling this"They're paying a lot of attention to what the Fed is saying around the kind of weakness or sustained weakness they need to create, the cooling they need to create in the economy to beat the corrosive effects of inflation, which can really, in the long term, damage the economy significantly," he added.U.S.
"The chances of a soft landing are likely to diminish to the extent that policy needs to be more restrictive or restrictive for longer…""The chances of a soft landing are likely to diminish to the extent that policy needs to be more restrictive or restrictive for longer," he said during his press conference following the September meeting.Policymakers also signaled the job market may need to take a hit. They lifted their forecast for the annual 2023 unemployment rate to 4.
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