EY Global Chairman and CEO Carmine Di Sibio weighs in on the economy and the possibility of a recession from Davos.
During an interview on “Mornings with Maria” EY Global Chairman and CEO Carmine Di Sibio weighed in on the possibility of a recession, saying that the economic slowdown will last only six months.
CARMINE DI SIBIO: The first thing I would say is in any economic cycle where we used to think, economic cycles go on for two years, five years, ten years. Today, everything is much shorter. The time frame is much shorter. The amount of data and the use of technology and how well people are connected globally, it forces the time frame to be much shorter.
EY Global Chairman and CEO Carmine Di Sibio discusses when the U.S. economy will bounce back at the World Economic Forum in Davos. (iStock / iStock)
So we have people on all sides, there’s a lot of headwinds going on, and I do think the economy will come down across the board. But will we be in a recession? Personally, I don’t think so. And you know what? Some of this is not bad for business. It’s not bad for the overall environment. I do think we were running hot. There was too much money in the environment that needs to cool down, and then we could rebuild. And so I personally think this is a six-month issue or so. And then it’ll start rebounding back.
WORLD ECONOMIC FORUM DAVOS: WHAT TO KNOW
WATCH THE FULL INTERVIEW HERE:
EY Global Chairman and CEO Carmine Di Sibio weighs in on the topics being discussed at the World Economic Forum.
