According to the findings of a survey conducted by Stifel Financial, the majority of executives in the United States are preparing for a period of economic contraction. In addition to this, “53% of respondents expect that inflation will be an issue for the next two quarters to a year.” [Citation needed]
The majority of executives surveyed believe that a recession is unavoidable.
The findings of a survey that Stifel Financial Corp. (NYSE: SF) carried out on the current condition of the economy in the United States were made public last week. Between the 18th of July and the 5th of August, the financial services corporation with its headquarters in St. Louis questioned a total of seventy corporate executives, business owners, and private equity investors. The following, as stated by the company:
The vast majority of those who participated in the survey are of the opinion that the United States economy is either currently experiencing a recession (18%) or will do so during the next 18 months (79%).
“Inflation and the tight U.S. labor market represent the two biggest perceived challenges to business today,” the company stated, after noting that only 3% of people believe the economy of the United States would completely avoid entering a recession.
In addition to this, according to the information provided by the financial services organization, “53% of respondents anticipate that inflation will be an issue for the next two quarters to a year, with another 43% anticipating elevated prices to linger for even longer.”
In the meantime, fifty percent of those who took the study describe themselves as “extremely anxious” about price increases. Stifel emphasized, expanding on the following:
The overwhelming majority, which accounts for 81%, is primarily responsible for passing on growing prices to customers rather than absorbing such expenses within profit margins, reducing overhead, or switching suppliers.
On the topic of whether or not the economy of the United States will enter a recession, numerous analysts, economists, and executives have offered their opinions.
Jamie Dimon, the chief executive officer of JPMorgan Chase, issued a warning about “something worse” than a recession one week ago. Elon Musk, CEO of Tesla, stated recently that inflation has reached its pinnacle but that a recession is on the horizon that may endure for approximately 18 months. This year, according to a forecast by Bank of America, the United States economy will enter a period of contraction.
Early in this month, Vice President Joe Biden stated that the economy of the United States had no inflation in the month of July. His statement came in the wake of an effort by his government to reinterpret the scientific meaning of the term “recession.”