Bailey Routzong

Short Takes and Industry News: CEOs See Tough Recession Coming

SHORT TAKES & INDUSTRY NEWS

Unfortunately for all of us in the industry, the latest news about inflation and the likely near future for the U.S. and global economies is becoming increasingly concerning. We are passing on what we think is a key article we picked up from Fox Business this week…

Click HERE to read the article.

CEOs see tough recession coming…

A survey conducted by the international accounting/advisory firm KPMG of 400 American top executives shows that 91% of those 400 CEOs are becoming increasingly a more pessimistic group as inflation rages and as the Federal Reserve keeps hiking interest rates. 

Those 91% believe there will be a recession in the next 12 months, and even more concerning, only one-third of those CEOs think that recession will be short and mild. This has led to many of these CEOs actively considering reductions in their workforces, and dozens of large U.S. based companies have already begun those layoffs. Read More

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