Powered by


(PID:52427295326) Source
posted by Guy M Wong alias guywong on Friday 14th of October 2022 04:29:34 PM It's almost impossible to find a CEO who isn't bracing for a recession Top business leaders are preparing for the worst. Federal Reserve officials maintain they'll be able to get surging inflation under control without triggering a recession, but almost every chief executive in the United States is getting ready to face an economic downturn in the next 12 to 18 months, according to a recent survey from The Conference Board. "Our CEOs are overwhelmingly bracing for a recession — both in the United States, and in Europe," says Steve Odland, the head of the business trade group. It seems almost impossible to find one who doesn't foresee a global downturn, with 98% of chief executives in the survey gearing up for a recession in the United States, and 99% prepping for one in Europe. CEO confidence has now eroded to lows last seen during the Great Recession, the survey found. The Fed's fight against high inflation has been getting tougher, stoking worries that the rapid fire of aggressive interest rate hikes will lead to a downturn. Executives and professional investors have begun issuing more somber warnings. One of the world's most powerful CEOs, Jamie Dimon, delivered a gloomy assessment that startled Wall Street this week during an interview with CNBC. The head of JPMorgan Chase & Co. said he expects the United States will be in a recession "six, nine months from now," and Europe is already in one. Back in June, Dimon forecasted an economic "hurricane" on the horizon. That storm seems to have strengthened, and now he seems sure it's about to hit. Before he became The Conference Board's CEO, Steve Odland ran Office Depot, and he said companies want to do everything they can to cut back on overhead before a recession hits. "You want to batten down the hatches," he says. "You really want to constrain the cost side while maximizing the revenue side." Meta's Mark Zuckerberg has reportedly told his staff to expect layoffs in the near future. And FedEx, which is seen as an economic bellwether, is closing stores and cutting back on deliveries as its CEO warns of a global recession. Fed officials, including Chair Jerome Powell, still say they can nail a so-called "soft-landing," where high inflation is vanquished without pushing the country into a recession. But policymakers, economists, and investors agree that path has gotten narrower, and most business leaders expect the landing will be a little rocky, at least. US inflation rises more than expected in September Consumer prices in the US rose more than expected last month in a sign that the inflation fight in the world's largest economy is far from over. Inflation, the rate at which prices rise, was 8.2% in the 12 months to September, down from 8.3% in August. Despite the fall, the figure was still higher than forecast. Grocery prices have jumped 13% over the past 12 months, and housing and medical costs are also rising sharply. Excluding food and energy, inflation jumped 6.6% - the fastest rate since 1982. Consumer spending was flat in September and below expectations as inflation takes toll Key Points ◦ Retail and food services sales in total were little changed in September against the estimate for a 0.3% gain. ◦ Excluding autos, sales rose 0.1%, vs. the estimate for spending to be unchanged. ◦ The numbers are not adjusted for inflation, indicating that consumer spending slowed. Consumer spending was flat in September as prices moved sharply higher and the Federal Reserve implemented higher interest rates to slow the economy, according to government figures released Thursday. Retail and food services sales were little changed for the month after rising 0.4% in August, according to the advance estimate from the Commerce Department. That was below the Dow Jones estimate for a 0.3% gain. Excluding autos, sales rose 0.1%, against an estimate for no change. Considering that the retail sales numbers are not adjusted for inflation, the report shows that real spending across the range of sectors the report covers retreated for the month. A Bureau of Labor Statistics report Thursday indicated that consumer prices rose 0.4% including all goods and services, and 0.6% when excluding food and energy. Miscellaneous store retailers saw a decline of 2.5% for the month, while gasoline stations were off 1.4% as energy prices declined. A slew of other sectors also posted drops, including sporting goods, hobby, books and music stores as well as furniture and home furnishing stores, both of which posted a -0.7% drop, while electronics and appliances were off 0.8% and motor vehicle and parts dealers fell 0.4%. General merchandise store sales rose 0.7%. Gainers also included online stores, bars and restaurants, clothing retailers and health and personal care stores, all of which saw 0.5% increases. While the gains for the month were muted, retail sales rose 8.2% from a year ago, matching the rise in the consumer price index. Shoppers remain generally flush with cash though there are indications of late that they are dipping into savings to make ends meet. The Fed has enacted multiple interest rate hikes aimed at reducing inflation and bringing the economy back into balance. Markets expect the central bank to raise rates up to 1.5 percentage points more through the end of the year. A separate report Thursday showed that import prices fell 1.2% in September, slightly more than the 1.1% estimate. Exports declined 0.8%.

Fed Rate Hike Expectations,
Fed Rate Hike Expectations 2023,
Fed Rate Hike Expectations Chart,
Fed Rate Hike Expectations 2022,
Fed Rate Hike Expectations December 2022,
Fed Rate Hike Expectations November 2022,
Fed Rate Hike Expectations Cme,
Fed Rate Hike Expectations September 2022,
Fed Rate Hike Expectations June 2022,

on topic

License and Use

This Fed Rate Hike Expectations - dsc_5992 on image has 1024x692 pixels (original) and is uploaded to . The image size is 162803 byte. If you have a problem about intellectual property, child pornography or immature images with any of these pictures, please send report email to a webmaster at , to remove it from web.

Any questions about us or this searchengine simply use our contact form

  • Published 02.05.23
  • Resolution 1024x692
  • Image type jpg
  • File Size 162803 byte.

Related Photos


comments powered by Disqus