![]() If you’re familiar with drawing tablets, then Huion is a name you’ll recognise – but you may not have been aware that the firm is also one of the leading names in the world of lightboxes. Transcript provided by NPR, Copyright NPR.We think the Huion A3 LED Light Pad is an excellent all round lightbox. But that path has gotten so narrow, most business leaders expect the landing will be a little rocky at least.ĭavid Gura, NPR News, New York. They argue there is a way for them to nail a so-called soft landing, whereby they get inflation under control without triggering a recession. And Federal Reserve officials continue to say it's not inevitable. GURA: Executives caution no one can predict what a recession will be like. Typically, you would hear that they're cutting back, that they are not going to increase wages. ODLAND: That's unheard of from this group going into a recession. And 85% of them expect to boost pay by 3% or more. Steve Odland says almost half the CEOs surveyed plan to hire more workers over the next 12 months. Companies have strong balance sheets, and people have jobs. People are still spending, but most of them are not overextended. And that's because this economy is so unique. Eighty-five percent of CEOs expect a brief and shallow recession. GURA: That's in line with the Conference Board's results. I see, if we have a recession, a modest recession - a two-quarter type of recession, not a one-year type of recession. And as he decides where to invest billions, Rubenstein keeps a close eye on the economy.ĭAVID RUBENSTEIN: I don't see a great recession. David Rubenstein is the co-chairman of the Carlyle Group, one of the world's largest private equity firms. And that is shaping how the heads of companies think about what the next recession will be like. Today, it all goes back to high inflation and how the Federal Reserve is fighting it. Balance sheets were in tatters from households to companies, to banks. What started as a real estate slowdown infected the whole economy. GURA: But the factors that led to that downturn were different. ODLAND: So we're down to a level now that is the lowest level of CEO confidence since the Great Recession. Executives say they feel less certain about the future. FedEx is closing stores and cutting back on delivery as its CEO warns of a global recession. Meta's Mark Zuckerberg recently told staff to expect layoffs. GURA: And companies are starting to do that. ODLAND: You know, as a CEO, if you are going into a recession, what you want to do is you want to batten down the hatches. Steve Odland ran Office Depot before he got to the Conference Board. What's changed since then is how many CEOs agree with him and have started to prepare for a downturn. ![]() Back in June, Dimon forecasted an economic hurricane on the horizon. in some kind of recession six or nine months from now. and, you know, the world - I mean, Europe is already in recession. JAMIE DIMON: These are very, very serious things, which I think are likely to push the U.S. And then, there's the war in Ukraine, which is already hurting Europe's economy. ![]() ![]() There have been wild swings in stocks and bonds and currencies. Jamie Dimon is in charge of the largest bank in the U.S., which means he pays very close attention to the global economy. And 99% of them said they're getting ready for one in Europe. And 98% of respondents said they're preparing for recession in the United States. GURA: Today, the Conference Board has released the results of its latest CEO survey. and in Europe, but also a slowdown virtually everywhere else. STEVE ODLAND: We're finding that our CEOs are overwhelmingly bracing for a recession both in the U.S. Steve Odland is the head of the Conference Board, a group of business leaders. NPR's David Gura reports.ĭAVID GURA, BYLINE: It's hard to find a CEO anywhere who doesn't worry there will be a recession in the next year or year and a half. For many top executives, the question is no longer if there will be a recession, it's when. The fight against high inflation is getting tougher, fueling fears the United States is heading for a recession. ![]()
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