April 26, 2022

Corporate America has been chalking up profits this year, but some executives are sounding deeply uncertain about the country’s economic future.

They are nowhere near as dour as Republicans about the state of the union — nor are they as pessimistic as many voters. But on public conference calls, first-quarter earnings reports and in private conversations, companies from Goldman Sachs to Tesla are voicing caution about the economy in ways that should unnerve Democrats already facing brutal midterm elections. If CEOs grow even more wary about the burgeoning set of risks, they could pull back in hiring and spending, denting the Covid-19 recovery.

Some companies are lowering their guidance to investors on future results because there are simply too many unknowns in the economy — the path of interest rates amid soaring inflation, the stability of the housing market, the recovery path for damaged supply chains, and whether the country will ever shake off the Covid hangover.

Read more:

https://www.politico.com/news/2022/04/26/as-clueless-as-we-are-ceos-wary-about-economys-landmines-00027790