CEO confidence has tumbled to the weakest level since the beginning of the Covid-19 pandemic, The Conference Board said Wednesday.
For the first time during the economic expansion, CEO confidence is now in negative territory.
Worse, business leaders are bracing for a potential downturn caused by the Federal Reserve’s quest to tame inflation.
A staggering 68% of CEOs surveyed by The Conference Board expect the Fed’s war on inflation will eventually trigger a recession. The survey, fielded between April 25 and May 9, measured responses from 133 CEOs of mostly public companies.
The good news is that just 11% of CEOs anticipate a so-called hard landing, marked by a deep recession. The rest expect a “very short, mild” recession.
“.. a staggering 68% of CEOs surveyed by The Conference Board expect the Fed's war on inflation will eventually trigger a recession.”
— Carl Quintanilla (@carlquintanilla) May 18, 2022