American CEO’s do not have a positive outlook on the economy, according to a recent KPMG survey.
“Ninety-one percent of CEOs surveyed believe there will be a recession in the next 12 months. Only one-third of those CEOs believe it will be a short and mild recession.
Some CEOs are considering workforce reductions, roughly half of the CEOs are thinking about whether they need to reduce workforce,” KPMG CEO Paul KnoppWhen speaking of the 400 business leaders surveyed, he noted they were paying attention “to what the Fed is saying around the kind of weakness or sustained weakness they need to create, the cooling they need to create in the economy to beat the corrosive effects of inflation, which can really, in the long term, damage the economy significantly.
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