Joe Biden did that!
The Fed disagrees, but Main Street says ‘the recession is already here.’
- The CNBC/SurveyMonkey Small Business Confidence Index hit an all-time low in the third quarter 2022, with President Biden’s approval hitting an all-time low as well.
- More than three-quarters (77%) of small business owners expect inflation to continue to rise and only about one-quarter (26%) have faith in Federal Reserve policy.
- As the Fed hikes interest rates to cool demand in the economy, more than half of small business owners say the recession has already begun, and Main Street’s sales outlook took a big hit, the biggest contributor to the new all-time low in confidence.