Wall Street’s great debate of 2023 — whether the U.S. economy is headed for a recession — is resurfacing amid escalating unrest in the Middle East.
Heightened geopolitical risk, along with unabating inflationary pressures, surging bond yields, and the Federal Reserve’s “higher for longer” vision, has business leaders bracing for a contraction.
“There’s a lot of fog on the horizon,” KPMG U.S. CEO Paul Knopp told Yahoo Finance Live, citing geopolitical tensions as one of the top risks to the economy.
72% of CEOs are preparing for a US recession over the next 12-18 months, according to The Conference Board’s survey of business leaders. While that’s an improvement from the start of the year, expectations about the short-term economic outlook have darkened.
Big bank CEOs are among those weighing in on a more uncertain economic outlook. JPMorgan Chase (JPM) CEO Jamie Dimon…
