CEOs Are Predicting a Mild Recession in the U.S.

CEOs continue to send the same message about the U.S. economy: A recession is looming but persistent strength in the labor market will endure. Typically, corporate executives would be focused on cutting costs and jobs amid such uncertain times, but they instead anticipate the job market will stay competitive. The seeming cognitive dissonance underlies the complexity of an economy that has suffered serial shocks in recent years — from the pandemic to inflation to rapid interest rate hikes to a mini banking crisis — but which nonetheless continues to exude signs of resilience.