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Four CEOs who warned of slowdown in the global economy

Tesla employees received an email from their boss on June 2. In, Elon Musk There was two bad news for…

By admin , in news , at June 4, 2022

Tesla employees received an email from their boss on June 2. In, Elon Musk There was two bad news for him. The world’s richest man claimed to have “very bad feelings” about the economy. As a result, he announced his intention to cut the company’s workforce by 10%.

Musk isn’t the most prudent of entrepreneurs, but he’s managed to make the biggest fortune on the planet. The alert has been triggered during the last weeks. crisis of inflation Including -practically- all the economies of the world, show no signs of exhaustion. Energy valueAnd this ‘crack‘ Of raw materialContinue to cut citizens’ purchasing power points, curb consumption, and push the planet into a new recession.

Dimon (JP Morgan) warns of a “storm”

A day before Musk infuriated his employees with his email, another CEO — of better fame — issued his own warning. Jamie DimonPresident of JPMorgan Chaseassures that a «hurricane, The head of the financial body pointed to the effects of strong global inflation and a steep hike in interest rates implemented by the United States Federal Reserve. Dimon opted for a meteorological analogy.

“This storm is here now and it’s coming towards us (…) We don’t know if it’s a minor or a big Hurricane Sandy, so you better be prepared,” he told an investor conference. In fact, JPMorgan’s -also-CEO – conceded that the entity corrected the course of its forecasts. “We’re going to be very conservative with our financial balance,” he said.

The banker’s words could presage a credit embargo that decimated the American economy, and that of the rest of Westerners. Investors punished Dimon’s alarm and shares fell 1.4% at the close of the markets.

Friedman (RH) recommends being “ready for anything”

Forecasts of inflation levels and its impact on the US have also raised alarm bells for RH, a home goods maker. Gary Friedman, The CEO recommended – during the presentation of the company’s results – “be ready for anything, at any time”.

Three warnings, which have a solid economic basis. On 26 May, the President of world Bank Was blunt during his appearance in front of the US Chamber of Commerce last week. David Malpass said that “If we look at world GDP, It’s hard to see how to survive a recession», Economists do not rule out that the rise in energy prices – the result of the war in Ukraine – will continue to increase.

Nor does Europe rule out recession

Europe does not survive. Chief Economist of S&P Global, Chris Williamson Do not shy away from discussion. “Obviously, the next few months will be challenging for the region (Europe) and recession cannot be ruled out economy despite the encouraging expansion of the service sector.

The fate of the global economy depends on how the war in Ukraine progresses, and what measures central banks take to combat runaway inflation.

Four CEOs who warned of slowdown in the global economy

2022-06-04 09:39:05