Bidenomics: Overwhelming majority of CEOs say that they are preparing for an upcoming recession

According to a recent survey, "almost all CEOs" in the United States say that they're preparing for a recession, according to the Epoch Times. 

The survey found 98 percent of CEOs said they were preparing for a recession after they were asked to describe the economic conditions for the next 12-18 months, reports the outlet. 

Dana Peterson, chief economist of The Conference Board stated that CEO confidence is at its lowest level since the Great Recession. 

“However, despite expectations of slow growth, tight labor market conditions and wage pressures persist, while hiring plans remained robust,” he said.

The Federal Open Market Committee and the Board of Governors of the Federal Reserve System said in September that interest rates are going to remain high for a period of time. 

"Many participants indicated that, once the policy rate had reached a sufficiently restrictive level, it likely would be appropriate to maintain that level for some time until there was compelling evidence that inflation was on course to return to the 2 percent objective," the Federal Open Market Committee said in a statement.

A below-trend real GDP growth period would help the economy and help with price stability, according to policymakers at the Federal Reserve.