The Federal Reserve has expressed confidence inflation will get under control soon. Business leaders are not so sure.
Nearly 75% of CEOs say upcoming interest rates hikes are unlikely to curb inflation as quickly as the Fed would like because supply constraints and wage hikes will persist, according to a survey released by the Conference Board and The Business Council on Thursday.Manufacturing CEO: 'Demand isn't our problem. Keeping up with it is'Just 21% expect rate hikes — the Fed has signaled about three are in the cards this year — to reduce inflation.
Oil could 'easily' hit $120 if Russia-Ukraine crisis escalates, JPMorgan warnsHalf of the CEOs said they expect economic conditions to improve over the next six months, down from 61% in the fourth quarter. Almost a quarter expect conditions to worsen, up from 13% in the prior quarter.Business leaders' relative pessimism on inflation may stem from the fact that many of them plan to continue to raise prices to offset the elevated costs they face.
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