Corporate America Is Starting To Grasp The Obvious: America Is In Recession

America’s CEOs are beginning to understand that the recession denied by the Fed yet intended by the Fed has already arrived, and the current economic unraveling is simply that recession getting progressively deeper.

Findings published by Stifel Financial show that 18% of corporate executives, business owners and private equity investors believe the economy has already contracted and is in a recession. That compares to about 79% of whom expect a downturn within the next 18 months. 

By comparison, just a small fraction of executives — about 3% — think a recession will be avoided altogether.

Jay Powell, for his part, continues to deny that recession is happening or even that it is going to happen.

“We think it’s necessary to have growth slow down,” he said in July. “We actually think we need a period of growth below potential in order to create some slack so that the supply side can catch up.”

A “growth slow down”, of course, means people having less means and buying less. That’s the only way to “create slack” for supply to “catch up.”

The Fed’s solution to excess consumer demand: eliminate the consumer demand.