FAST FIVE: 68% Of CEOs Say Fed Policy Is About To Trigger A Recession
68% Of CEOs Say Fed Policy Is About To Trigger A Recession No matter how many Tom Lees and Marko Kolanovics CNBC wants to roll out to try and play things off like everything is fine, most CEOs – who spend their time in the real world instead of “analyzing” it – are bracing for a recession. In fact, “CEO confidence has tumbled to the weakest level since the beginning of the Covid-19 pandemic”, a new report from CNN, citing The Conference Board, said this week.
CEO confidence is now negative for the first time during the economic expansion, the report notes.
The C suite is bracing for a turndown as a result of Fed policy, the report notes. 68% of CEOs expect that Fed policy is going to trigger a recession, according to a survey fielded between April 25 and May 9 which looked at the responses of 133 CEOs.
Most CEOs said they expect a “very short, mild” recession.
RSM chief economist Joe Brusuelas concluded: “Concerns about an immoderate near term recession are generally overblown.