{"id":1703205,"date":"2022-10-20T08:35:18","date_gmt":"2022-10-20T12:35:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1703205"},"modified":"2022-10-20T08:48:15","modified_gmt":"2022-10-20T12:48:15","slug":"business-titans-are-sounding-the-alarm-over-the-u-s-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/business-titans-are-sounding-the-alarm-over-the-u-s-economy\/","title":{"rendered":"Business Titans Are Sounding the Alarm Over the U.S. Economy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbusiness-titans-are-sounding-the-alarm-over-the-u-s-economy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1703205&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>&#8220;Kennedy&#8221; panelists Inez Stepman, Jessica Tarlov and Scott Horton discuss a Bloomberg economic model predicting a 100% chance of recession within the next 12 months.<\/p>\n<p>A growing number of influential Wall Street executives and business titans have sounded the alarm over the state of the U.S. economy.<\/p>\n<p>Relentless inflation combined with the most hawkish Federal Reserve in decades have raised the specter of a recession, according to some of the most prominent CEOs in the country.<\/p>\n<p>The U.S. central bank has embarked on one of the fastest monetary tightening paths in decades as it seeks to wrestle consumer prices that are still running near a 40-year high back to 2%.<\/p>\n<p>In a troubling development, however, the Fed&#8217;s rate hikes have thus far failed to tame inflation: the government reported last week that the consumer price index soared 8.2% in September from the previous year, faster than expected. Even more concerning, core prices \u2013 which exclude more volatile measurements of food and gas \u2013 jumped 6.6%, the fastest since 1982.<\/p>\n<p><a href=\"https:\/\/foxbusiness.com\/economy\/inflation-surged-september-prices-remain-stubbornly-high\" target=\"_blank\" rel=\"noopener\"><strong>INFLATION SURGED MORE THAN EXPECTED IN SEPTEMBER AS PRICES REMAIN PAINFULLY HIGH<\/strong><\/a><\/p>\n<p>A shopper looks at organic produce at a supermarket in Montebello, California, on Aug. 23, 2022. (Frederic J. BrownAFP via Getty Images \/ Getty Images)<\/p>\n<p>That indicates the Fed will have to continue charting its aggressive course, raising the odds that it will crush consumer demand and cause unemployment to rise.<\/p>\n<p>Economic growth already contracted in the first two quarters of the year, with gross domestic product \u2013 the broadest measure of goods and services produced in a nation \u2013 shrinking by 1.6% in the winter and <a href=\"https:\/\/www.foxbusiness.com\/economy\/final-gdp-reading-shows-us-economy-shrank-spring-cementing-start-recession\" target=\"_blank\" rel=\"nofollow noopener\">0.6% in the spring,<\/a> signaling the start of a technical recession.<\/p>\n<p>The chorus of ominous warnings is likely unwelcome news for <a href=\"https:\/\/foxbusiness.com\/category\/joe-biden\" target=\"_blank\" rel=\"noopener\">President Joe Biden<\/a>, who has repeatedly maintained that the U.S. will avoid a recession and that any downturn will be &#8220;very slight&#8221; as he seeks to assuage voter fears about the state of the economy ahead of the pivotal midterm elections.<\/p>\n<p>&#8220;I don\u2019t think there will be a recession. If it is, it\u2019ll be a very slight recession,&#8221; the president said last week during an interview on CNN. &#8220;That is, we\u2019ll move down slightly.&#8221;<\/p>\n<p>Here&#8217;s a look at which corporate executives see a downturn looming on the horizon.<\/p>\n<p>David Solomon\u00a0     <\/p>\n<p>David Solomon, chief executive officer of Goldman Sachs, speaks during the Bloomberg New Economy Forum in Singapore on Nov. 17, 2021. (Bryan van der Beek\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n<p>Goldman Sachs CEO David Solomon recently warned that there is a &#8220;good chance&#8221; the U.S. economy tumbles into a recession, warning investors to brace for turbulent waters ahead.<\/p>\n<p>&#8220;I think you have to expect that there\u2019s more volatility on the horizon now,&#8221; Solomon said during an interview on CNBC. &#8220;That doesn\u2019t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there\u2019s a good chance that <a href=\"https:\/\/foxbusiness.com\/category\/recession\" target=\"_blank\" rel=\"noopener\">we have a recession<\/a> in the United States.&#8221;<\/p>\n<p>Given the economic uncertainty as a wave of<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Kennedy&#8221; panelists Inez Stepman, Jessica Tarlov and Scott Horton discuss a Bloomberg economic model predicting a 100% chance of recession within the next 12 months. A growing number of influential Wall Street executives and business titans have sounded the alarm over the state of the U.S. economy. Relentless inflation combined with the most hawkish Federal &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1888851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1703205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1703205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1703205"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1703205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1888851"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1703205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1703205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1703205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}