A recent KPMG survey revealed most American CEOs do not see a robust economic outlook going forward.

During an interview with Fox Business, KPMG CEO Paul Knopp said, “Ninety-one percent of CEOs surveyed believe there will be a recession in the next 12 months. Only one-third of those CEOs believe it will be a short and mild recession. Some CEOs are considering workforce reductions, roughly half of the CEOs are thinking about whether they need to reduce workforce.”

He noted that in its survey of 400 business leaders, they were focused primarily on “what the Fed is saying around the kind of weakness or sustained weakness they need to create, the cooling they need to create in the economy to beat the corrosive effects of inflation, which can really, in the long term, damage the economy significantly.”

CNBC International Financial Journalist Arabile Gumede had noted Friday that the new revised GDP figures show that the American economy is in a technical recession. She pointed out that Americans are feeling that, and as prices continue to skyrocket, “things are certainly looking a whole lot more negative.”

Another poll from Axios-Ipsos showed widespread discontent with the government’s handling of the economy. It indicated that American citizens are hurting, and most indicate they are afraid that costs will become unbearable if the midterms do not change the leadership in DC.

Current estimates are that inflation is going to cost American families $5,520 in 2022, and a recent study showed that 61% of general election voters believe the economy is in a recession.