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

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

98% of CEOs expect US recession

The Conference Board released its CEO Confidence Index on Thursday. The Board is a global non-profit research group with over 1,000 public and private companies and organizations as members in 60 countries.

The CEO confidence measure is “a barometer of the health of the U.S. economy from the perspective of U.S. chief executives,” the conference board explained, and the fourth-quarter survey ran Sept. 19 to Oct. 3. It added that a total of 136 investigations were carried out during the day. CEO attended.

“A recent survey asked CEOs to describe the economic conditions they are preparing to face in the next 12 to 18 months,” the board explained, adding:

An overwhelming majority (98%) say they are preparing for a US recession. Additionally, 99% of CEOs say they are preparing for an EU recession.

Dana M. Peterson, chief economist for The Conference Board, commented:

Business Council Vice Chairman and Conference Board Trustee Roger W. Ferguson Jr. While the majority still expect the US recession to be short and shallow, nearly 7 in 10 believe the EU will enter a deep recession with serious global spillovers. ”

Many predict that the US economy will plunge into recession. JP Morgan CEO Jamie Dimon warned that a recession could hit in less than six months and the stock market could drop another 20%. In August, JP Morgan bosses doubled down on the warning, warning that “something worse” than a recession could be coming.

Citadel Chief Executive Ken Griffin said last month that inflation may have peaked, but a recession is yet to come. “We are in a very uncertain time for investors,” stressed Griffin. Even Tesla CEO Elon Musk expects the economy to remain in a mild recession for the next 18 months.

Lawmakers are also concerned that the U.S. economy will plunge into recession. Senator Elizabeth Warren (D-Massachusetts) said in August that she was “extremely concerned” that the Fed would raise rates and plunge the US into recession.

What are your thoughts on CEOs preparing for a US recession? Let us know in the comments section below.

image credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS, OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.