A recent survey found that top business executives believe a recession will hit the U.S. economy in early 2023 amid high inflation, historically high gas prices, and the Federal Reserve’s shift in monetary policy.
About 68 percent of chief financial officers who were surveyed by CNBC believe a recession will take place in early 2023, and no CFO forecast a recession taking place later that the second half of that year. No CFO, meanwhile, believes that the economy will avoid a recession, the survey found.
The survey found that more than 40 percent of CFOs believe inflation, which stood at 8.3 percent in April, is the top external risk to their business. Another 23 percent believed that the Federal Reserve policies, which include a recent raising of interest rates, are the biggest risk factor. More CFOs said that supply chain disruptions and the conflict in Ukraine are their No. 1 external risk….