America’s CEOs are in the dumps. According to a new Conference Board survey, CEO sentiment has plunged to 34, down from 42 in the second quarter and 57 in the first three months of the year. Early in Joe Biden’s presidency, when businesses were still celebrating the exit of the unpredictable Donald Trump, COVID-19 seemed to be waning and before Democrats’ spending spree unleashed widespread inflation, the index hit an all-time high of 82. The recent reading is approaching the extreme pessimism that characterized the Great Recession in 2008-2009, when Barack Obama was in the White House. Who can blame our business leaders? The economy is weakening, the Federal Reserve is raising
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