Dana Peterson, chief economist at the Conference Board, and CNBC’s Steve Liesman join CNBC’s ‘Squawk Box’ to discuss why corporate executives expect the U.S. to enter a recession. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
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A recent survey conducted by the Conference Board, a non-profit business research group, revealed that 98% of CEOs are expecting a recession in the near future. The survey, which was completed by over 600 global CEOs, showed a sharp increase in collective pessimism about the global economy. This is almost twice the number of CEOs who predicted a recession in the previous year’s survey.
The chief economist of the Conference Board, Bart van Ark, recently spoke to CNBC and explained that the CEOs, who represent various industries, “believe that the global economy is on the brink of recession, or at least a significant slowdown compared to current growth rates”.
The survey showed that CEOs are particularly concerned about the ongoing trade tensions between the US and China, as well as political uncertainty and market volatility caused by Brexit. The global economic slowdown, particularly in Europe and China, is also a major concern for many executives.
CEOs are now preparing their companies for tough times ahead. Many plan to cut costs and adopt a more cautious approach to hiring and expansion plans. According to the Conference Board, this could lead to widespread job cuts and delayed investments in new technologies.
Despite the gloomy outlook, van Ark also highlighted several key factors that may help mitigate the impact of a potential recession. These include technological advancements, particularly in the fields of automation and artificial intelligence, which could help companies become more efficient and reduce costs.
Additionally, van Ark suggested that companies should be proactive in adapting to changing market conditions, rather than simply waiting for a recession to hit. For example, companies that invest in research and development, diversify their customer base, and improve their supply chain management are likely to be more resilient during economic downturns.
Overall, the Conference Board’s survey highlights the growing concern among CEOs about the global economic outlook. While there are certainly risks and challenges ahead, it is important for companies to remain proactive and vigilant in order to weather the storm. By focusing on innovation and cost-cutting measures now, companies can position themselves for success in the uncertain years to come.
To my understanding this just proves how much we need an edged as an investors because playing the market like everyone else just isn't good enough. During a raging bull market, all other investors purchase at a premium, Investors who purchase during weak markets have three characteristics: company knowledge, conviction, and a long-term outlook. I've been quite ensured about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts
I finally decided to do the responsible thing and buy in at the end of 2021, right at the peak of the market and only in "safe" index funds. Now I'm down 20% for the year. It's nice to get immediately punished for doing what you're supposed to be doing. I'm staying in it, and dollar cost averaging at a low level, but this is still painful. where can we put our invstmnt money outside of the financial market, I have $45,000 left?
In my opinion, the remedy to weather this is short-term trading, as opposed to long-term, most folks using these techniques are netting a ton of gains, sure the risks are higher but yet again isn't the current market equally as risky?
A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
I am aware that continuing to invest during periods of volatility can be a smart way to build wealth. I’ve heard testimonies of people accruing over $250k this red period. What measures can i take to ensure this?
We hungry but them belly full
-RATM
The Job market went down because of the virus which was forced and self inflicted. The job market did not hit it's original projection. Many people were making more money not working taking the relief funds. They say the job market is up but it's not really the case. Now if you haven't noticed large companies are laying off thousands of people already under restructure plans. The market is going to crash very soon. Watch how many people lose their jobs and much more. We know this is going to happen after the mid term election, they don't want it to happen before that because of obvious political reasons.
The talents
Gold card
Hung mother talent
Jop
Up the down momment
Try my moments in my cell phone master
When our adversaries send the pallets of money expecting the treasury to credit it
https://www.youtube.com/watch?v=Ko17byRnCWo
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market.
Its going to be difficult for Americans to acquire imports in 2023. Period. Biden has not solved the issues with BRICS + OPEC and did not present an alternative like TPP. Biden's foreign policy in Afghanistan, the Southern Border, and Ukraine has deep flaws that are causing this poison pill monetary policy.
To reduce inflation by ~5 percentage points, the Fed almost certainly needs to open up an output gap aka cause a recession.
Did you hear that lady what’s causing this recession. this democrat administration for one? Oh wait no that’s the only thing
Expecting? I would say the recession is already here. I am due to retire and I am very stressed about what comes in 2023. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it especially when you cant work anymore. it gets tougher by the day.
98% of CEOs but they probably only asked 10 CEOs lol
"98% of CEOs are expecting a resession" — and 100% of them are not economists.
Why is our society so infatuated with CEOs? They are not oracles. They do not have access to special information outside the scope of their narrow industries. You don't ask a foot doctor for advice about a global pandemic, and you should not ask the CEO of Acme Toilet Co. for predictions of national or global recessions.
There is genuinely no topics in the world where 98% of people agree so thats funny
That being said, sell all your stocks by Q2'23.