06/29/2022 | Press release | Distributed by Public on 06/29/2022 06:53
Views on the economy among CFOs have worsened for 2022, according to the latest results of The CFO Survey, a joint project of Duke University's Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta.
"Price pressures have increased, real revenue growth has stalled, and optimism about the overall economy has fallen sharply," said John Graham, a Fuqua finance professor and the survey's academic director. "Monetary tightening is one of several factors dampening the economic outlook."
The quarterly survey of 320 U.S. financial executives was conducted May 25-June 10. Among its findings:
Company-specific numbers worsen
National economic outlook deteriorates
Increasing interest rates expected to reduce capital spending and borrowing
The survey asked CFOs whether capital spending plans would be affected by increases of 1, 2 or 3 percent in their borrowing interest rate. The survey closed prior to the Federal Open Market Committee's recent 0.75 percentage point increase in the federal funds rate target.
The latest survey, as well as historical data and commentary, can be found at www.cfosurvey.org. Sign up to receive email notifications when new results are posted.
As part of our nation's central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District - including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia - to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that's fit for distribution, and provide a safe and efficient way to transfer funds through our nation's payments system.
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