98% of CEOs Preparing for US Recession — Confidence at Lowest Level Since Great Recession – Economics Bitcoin News

The Conference Board has found that 98% of executives surveyed are preparing for a US recession while 99% of executives are preparing for an EU recession. “CEO confidence has fallen further since the beginning of the fourth quarter and is at its lowest level since the Great Recession,” the organization said.

98% of CEOs predict a recession in the US

The Conference Board released the CEO Confidence Gauge on Thursday. The Board of Directors is a global, not-for-profit research group with more than 1,000 public and private corporations and organizations as members in 60 countries.

The Conference Board describes the measure of CEO Confidence as “a measure of the health of the US economy from the point of view of US executives”, the Conference Board described, adding, adding that their Q4 survey was conducted from September 19 to October 3 with a total of 136 CEOs who participated.

“The recent survey asked CEOs to describe the economic conditions they are prepared to face over the next 12-18 months,” the board described, adding:

The majority – 98% – said they were preparing for a US recession. Furthermore, 99% of CEOs say they are preparing for an EU recession.

Dana M. Peterson, chief economist at The Conference Board, commented: “CEO confidence fell further in the early fourth quarter and is at its lowest level since the Great Recession.”

Roger W. Ferguson, Jr., Vice President of Business Council and Conference Board Trustee, said: “CEOs are now bracing for almost inevitable recessions throughout the United States. United States and Europe. While the vast majority still expect the US recession to be short-lived and shallow, nearly 7 out of 10 believe the EU will enter a deep recession with severe global spillovers.” .

Many have predicted that the US economy will fall into a recession. JPMorgan CEO Jamie Dimon warns that recession is possible achieved in six months and the stock market could easily drop another 20%. In June, the CEO warning that an economic storm is coming, advise everyone to prepare mentally. In August, the boss of JPMorgan double down about his warning, warning that “something worse” a recession could be coming.

Citadel CEO Ken Griffin said last month that inflation may have peaked but a recession is are coming. “We are in a very uncertain time for investors. Tesla CEO Elon Musk also believes we will have ” slight recession in 18 months. “

Lawmakers are also worried about the US economy falling into recession. Senator Elizabeth Warren (D-MA) said in August that she is “very worry“About the Federal Reserve raising interest rates and pushing the US into a recession.

What do you think about CEOs preparing for a recession in the US? Let us know in the comments section below.

Kevin Helms

An Austrian Economics student, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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