{"id":575657,"date":"2021-06-28T16:05:58","date_gmt":"2021-06-28T20:05:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=575657"},"modified":"2021-06-28T16:06:02","modified_gmt":"2021-06-28T20:06:02","slug":"one-third-of-cfos-will-raise-prices-if-inflation-continues-almost-none-trust-the-fed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/one-third-of-cfos-will-raise-prices-if-inflation-continues-almost-none-trust-the-fed\/","title":{"rendered":"One-Third Of CFOs Will Raise Prices If Inflation Continues, Almost None Trust The Fed"},"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\">28<\/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%2Fone-third-of-cfos-will-raise-prices-if-inflation-continues-almost-none-trust-the-fed%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=575657&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Money.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>American financial executives do not trust the Federal Reserve to manage inflation, and many foresee hiking their prices if costs continue to rise.<\/span><\/p>\n<p><span>A <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/06\/28\/corporate-america-lacks-faith-in-the-fed-to-control-inflation.html\"><span>survey<\/span><\/a><span> among members of CNBC\u2019s Global CFO Council \u2014 which represents a combined $5 trillion in market value \u2014 revealed that one-third of American CFOs will be forced to raise prices in the face of high inflation.\u00a0<\/span><\/p>\n<p><span>The survey also indicated that most executives see inflation as transitory. However, they do not believe that the central bank of the United States can effectively manage inflation in the near term:<\/span><\/p>\n<blockquote readability=\"9\">\n<p><i><span>Financial officers are not confident in the Fed\u2019s ability to control inflation over the next 12 months. No U.S.-based CFOs taking the survey said they were \u201cvery confident\u201d or \u201csomewhat confident,\u201d while 38% said they were \u201conly a little confident\u201d and 47% said \u201cnot at all confident.\u201d<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Executives across the globe expect that prices will continue to rise:<\/span><\/p>\n<blockquote readability=\"13\">\n<p><i><span>Over the next 6 months, the largest group of U.S. CFOs (57%) expect cost of labor to increase the most, with cost of raw materials cited by 38% of CFOs. Cost of labor forecasts in the U.S. far exceed the cost expectations in other regions. In the EMA region, 72% of CFOs expect raw materials to increase the most. In Asia Pac, the forecasts are closer (44% citing raw materials as biggest source of cost increase; 33% citing labor), but materials is still seen as the larger source of price concern.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>\u201cThe good news is that most of the inflation we are seeing does appear to be transitory. The bad news is that it is more severe and longer-lasting than many, including the Federal Reserve, expected,\u201d Grant Thornton economist Diane Swonk explained to CNBC. \u201cThere isn\u2019t really any muscle memory for what we are seeing. It is the first time that workers have had leverage since the latter part of the 1990s. Add the surge in retirement and loss in immigration, which was sliding rapidly pre-pandemic, and shortages are going to be more common.\u201d<\/span><\/p>\n<p><span>The results of CNBC\u2019s survey come two weeks after American businesses <\/span><a href=\"https:\/\/www.dailywire.com\/news\/american-businesses-see-largest-producer-price-surge-since-tracking-began\"><span>observed<\/span><\/a><span> the largest-ever increase in the Producer Price Index (PPI) \u2014 a metric that tracks changes in input prices for domestic producers. As of May, the PPI has increased year-over-year by 6.6%. In January, February, March, and April, the year-over-year increases were 1.6%, 2.8%, 4.2%, and 6.2%, respectively.\u00a0<\/span><\/p>\n<p><span>Last week, Rep. Jim Jordan (R-OH) <\/span><a href=\"https:\/\/www.dailywire.com\/news\/unstable-employment-high-inflation-jim-jordan-blasts-fed-chair-powell-in-hearing-on-covid-receovery\"><span>grilled<\/span><\/a><span> Fed Chair Jerome Powell for the United States economy\u2019s unstable inflation and high unemployment \u2014 the opposite of the Fed\u2019s mandate to promote stable inflation and low unemployment.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>American financial executives do not trust the Federal Reserve to manage inflation, and many foresee hiking their prices if costs continue to rise.A survey among members of CNBC\u2019s Global CFO &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2281548,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Money.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"One-Third Of CFOs Will Raise Prices If Inflation Continues, Almost None Trust The Fed","footnotes":""},"categories":[],"tags":[],"class_list":["post-575657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Money.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"One-Third Of CFOs Will Raise Prices If Inflation Continues, Almost None Trust The Fed","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/575657","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=575657"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/575657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2281548"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=575657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=575657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=575657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}