March inflation data is compounding US economic pressures, further muddying the Federal Reserve's outlook on interest rate cuts and when exactly officials should implement them. KPMG US Chair and CEO Paul Knopp sits down with Yahoo Finance in-studio to discuss inflation's pervasiveness and the results of KPMG's latest CEO survey, gauging chief executives' optimism on the US economy.
"87% of CEOs were optimistic about the prospects for the US economy. 78 or 79% for the US economy and equally for the global economy. 72% of CEOs said that they were going to increase either significantly or modestly their hiring in the next 12 months with only 4% talking about reductions, which aligns well," Knopp explains. "All the while facing into a lot of geopolitical uncertainty. Cyber is obviously prominent in people's minds right now. And then, the tight labor market remains a concern, but also, it's something that we've been navigating for quite some time now."
Knopp also talks about survey results pertaining to corporations' geopolitical concerns, outlook on business operations, and generative AI adoption.
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