Following three significant interest rate hikes by the U.S. Federal Reserve and more expected in coming months, consensus is growing among economists that the U.S. economy may be headed for a significant economic slowdown and even a possible recession in 2023. According to The Conference Board’s Measure of CEO Confidence survey, an overwhelming majority (81%) say they now anticipate a “brief and shallow recession” and are planning accordingly.
While no one can predict the depth or duration of any potential downturn, leaders of many public and private organizations have already begun contingency planning to weather the storm.
