98% of CEOs are gearing up for a recession in the U.S. in the next 12 to 18 months, a new trade survey finds. The majority expect it to be 'brief and shallow,' yet still anticipate boosting pay by 3% or more.
Chairman and CEO of JPMorgan Chase & Co. Jamie Dimon testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on Sept. 21, 2022.Chairman and CEO of JPMorgan Chase & Co. Jamie Dimon testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on Sept. 21, 2022.
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.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.
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