found business leaders are expecting a recession. About 58% of those surveyed thought any recession would be “mild and short,” according to the survey. About 71% said it would impact company earnings and 73% said it would impact growth.
That has led to about 39% of CEOs having implemented a hiring freeze, and about 46% considering downsizing their workforce over the next six months. However, over a three-year span, only 9% expect to further reduce headcount. The markets are reacting strongly to those recession fears as well. The number of IPOs throughout the world fell by more than 45% in last few months from the same quarter in 2021. The total amount offered in those IPOs that did move ahead plunged by nearly $73 billion, according to S&P Global Market Intelligence data and analysis.About 1.1 million job openings evaporated over the course of August, with total job openings down to 10.1 million, from 11.2 million in July.
Since inflation refuses to budge, coming in at about 8.2% growth in the Consumer Price Index, the Fed will likely keep raising rates, according to National Association of Realtors Chief Economist“Even with an economic recession looming, the Federal Reserve is unlikely to let up in its aggressive monetary policy of raising interest rates,” Yun said in a statement. “The Federal Reserve is trying to cut demand to reduce inflationary pressure, but inflation can also come down by increasing supply.
But optimism does remain in some corners, despite the headwinds, with a new report from Bank of America of 1,300 business owners showing about 77% say