Bitcoin News and Finance
Survey: 98% of CEOs Preparing for US Recession — Confidence at Lowest Level Since Great Recession Skip to main content

Survey: 98% of CEOs Preparing for US Recession — Confidence at Lowest Level Since Great Recession

Survey: 98% of CEOs Preparing for US Recession — Confidence at Lowest Level Since Great Recession

The Conference Board has found that 98% of chief executives surveyed are preparing for a U.S. recession while 99% of CEOs are preparing for an EU recession. “CEO confidence sunk further to start Q4 and is at its lowest level since the Great Recession,” the organization said.

98% of CEOs Expect Recession in the US

The Conference Board published its Measure of CEO Confidence on Thursday. The board is a global, non-profit research group with over 1,000 public and private corporations and organizations as members in 60 countries.

The Measure of CEO Confidence is “a barometer of the health of the U.S. economy from the perspective of U.S. chief executives,” The Conference Board described, adding that its Q4 survey was conducted between Sept. 19 and Oct. 3 and a total of 136 CEOs participated.

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

An overwhelming majority — 98% — said they were preparing for a US recession. Moreover, 99% of CEOs said they were preparing for an EU recession.

Dana M. Peterson, chief economist of The Conference Board, commented: “CEO confidence sunk further to start Q4 and is at its lowest level since the Great Recession.”

Roger W. Ferguson, Jr., vice chairman of The Business Council and Trustee of The Conference Board, opined: “CEOs are now preparing for near-inevitable recessions in both the US and Europe. While the vast 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 people have forecasted that the U.S. economy will slide into a recession. JPMorgan CEO Jamie Dimon warned that recession could hit in six months and the stock market could easily drop 20% more. In June, the executive warned that an economic hurricane is coming, advising people to brace themselves. In August, the JPMorgan boss doubled down on his warning, cautioning that “something worse” than a recession could be coming.

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

Lawmakers are also worried about the U.S. economy sliding into recession. Senator Elizabeth Warren (D-MA) said in August that she is “very worried” about the Federal Reserve raising interest rates and tipping the U.S. into recession.

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

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory